Jack Dorsey’s Block to launch free Bitcoin faucet after 16 years

Jack Dorsey’s Block is reviving the Bitcoin faucet concept with a $1 million giveaway campaign called Bitcoin Day, running from April 6 to April 10, 2026. The promotion will be distributed through Cash App and integrated with Block’s hardware wallet, Bitkey, marking the return of a format that first appeared in 2010, when developer Gavin Andresen gave away free BTC to introduce newcomers to the network.

Block’s Bitcoin Day: $1 million pool and up to $80 per user

Block’s Bitcoin Day landing page, hosted at btc.day, frames the campaign under the tagline “The Faucet Is Back” and describes it as “Earn Free Bitcoin.” Block says it is distributing a total pool of $1 million in bitcoin across the five-day promotional window.

The campaign offers three reward actions through Cash App and Block’s payments and custody products. Cash App’s official terms describe the following:

• $5 in bitcoin for buying $10 or more of bitcoin on Cash App.
• $25 in bitcoin for paying a participating Square merchant with bitcoin.
• $50 in bitcoin for withdrawing bitcoin to a Bitkey hardware wallet.

A single user who completes all three actions could receive up to $80 in bitcoin. The promotional period runs from 12:00 a.m. ET on April 6 to 11:59 p.m. ET on April 10, or until the $1 million pool is exhausted, whichever comes first.

Eligibility and geographic limits

Eligibility is limited to U.S. residents aged 18 or older. Block’s terms exclude New York residents from the Square bitcoin payment and Bitkey withdrawal rewards, citing state-level licensing restrictions. The terms also note that bitcoin services are not licensable activity in all U.S. states and territories.

Cause and development: a “faucet” framed as onboarding

Block’s campaign draws on the history of the original Bitcoin faucet created by Gavin Andresen in 2010, which gave away 5 BTC per visitor at a time when each coin was worth fractions of a cent. That early tool is widely credited with onboarding thousands of users and demonstrating Bitcoin’s ability to function as a peer-to-peer transfer mechanism.

While Block’s Bitcoin Day uses the faucet framing, its structure differs from the 2010 model. Block’s version requires a Cash App account and ties rewards to specific product actions rather than unconditional distribution, making the “faucet” label more symbolic than literal.

Market context and timing

Bitcoin Day is being launched during a period of depressed market sentiment. At the time of the announcement, bitcoin traded at $67,388, with a market capitalization of approximately $1.35 trillion and 24-hour trading volume near $22.69 billion. The Fear and Greed Index was at 11, in “Extreme Fear” territory.

The broader backdrop includes macroeconomic uncertainty. The Federal Reserve has warned that low employment growth may be the new normal amid elevated geopolitical risk, contributing to risk-off positioning across crypto and equities. Separately, the Senate Banking Committee is scheduled to consider Kevin Warsh for Fed Chair on April 16, adding policy uncertainty in the weeks ahead.

Impact and open questions

Block’s three-tier reward structure connects each step to a different part of its ecosystem: Cash App purchases, Square merchant payments, and Bitkey self-custody withdrawals. The largest incentive is attached to the Bitkey withdrawal step, which may encourage users to move beyond app-based engagement toward self-custody.

However, several practical details are not specified in the official materials, including how many users Block expects to participate and how quickly the $1 million pool might be depleted. The terms also do not clarify whether rewards are distributed instantly or on a delayed settlement basis. For the Bitkey withdrawal reward, it is unclear whether users must already own a Bitkey device or whether new device purchases during the promotional window qualify.

FAQ

When does Block’s Bitcoin Day promotion start?

The verified promotional window runs from 12:00 a.m. ET on April 6, 2026 to 11:59 p.m. ET on April 10, 2026, or until the $1 million bitcoin pool runs out.

What is a Bitcoin faucet?

A Bitcoin faucet distributes small amounts of bitcoin for free. The original faucet created by Gavin Andresen in 2010 gave away 5 BTC per visitor to introduce people to the network. Block’s 2026 version uses Cash App to distribute bitcoin rewards tied to specific product actions.

Is the bitcoin from this promotion really free?

The $5 reward for buying bitcoin requires a minimum $10 purchase, so it is partially subsidized rather than entirely free. The $25 Square merchant payment reward and the $50 Bitkey withdrawal reward require completing specific actions within Block’s product ecosystem.

Who is eligible?

U.S. residents aged 18 or older with a Cash App account. New York residents are excluded from the Square bitcoin payment reward and Bitkey withdrawal reward, and additional state-level restrictions may apply.

How much bitcoin can one person receive?

Up to $80 in bitcoin by completing all three reward actions: $5 for a bitcoin purchase, $25 for a Square merchant payment, and $50 for a Bitkey withdrawal.