Block, the fintech company led by Jack Dorsey, has announced a $1 million bitcoin giveaway campaign titled Bitcoin Day, reviving the long-dormant “Bitcoin faucet” concept that helped popularise the cryptocurrency in its early years.
The five-day promotion will run from April 6 to April 10, 2026, and will be distributed through Cash App with integration into Block’s hardware wallet, Bitkey. The campaign echoes the original Bitcoin faucet launched in 2010 by early Bitcoin developer Gavin Andresen, who famously gave away free BTC to onboard new users to the network.
According to Block’s official Bitcoin Day landing page (btc.day), the campaign operates under the tagline “The Faucet Is Back”, with a total distribution pool of $1 million in bitcoin.
Cash App’s terms outline three reward-based actions:
- $5 in bitcoin for purchasing $10 or more worth of BTC on Cash App
- $25 in bitcoin for paying a participating Square merchant using BTC
- $50 in bitcoin for withdrawing BTC to a Bitkey hardware wallet
Users who complete all three steps can earn up to $80 in free bitcoin. The offer is valid from 12:00 a.m. ET on April 6 through 11:59 p.m. ET on April 10, or until the reward pool is fully exhausted.
Eligibility is limited to U.S. residents aged 18 and above. Due to state-level regulatory restrictions, New York residents are excluded from the Square payment and Bitkey withdrawal rewards.
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The original Bitcoin faucet, created by Gavin Andresen in 2010, distributed 5 BTC per user at a time when bitcoin was worth only fractions of a cent. That initiative is widely credited with helping thousands of early users experience Bitcoin’s peer-to-peer functionality firsthand.
Block’s modern version is symbolic rather than literal. Unlike the original faucet, participation now requires a Cash App account and compliance with U.S. regulatory frameworks. Still, the underlying goal remains the same: placing bitcoin directly into the hands of new users.
The Bitcoin Day website directly references this history, positioning the campaign as a spiritual successor nearly 16 years after the original faucet, reinforcing Bitcoin’s grassroots origins.
The campaign is designed as a multi-product adoption funnel. Each reward tier aligns with a specific Block service:
- Cash App for bitcoin purchases
- Square for merchant payments
- Bitkey for self-custody
Notably, the largest incentive is tied to Bitkey, signalling Block’s emphasis on encouraging users to take custody of their own bitcoin rather than leaving funds on an app-based platform. Self-custody wallets typically face adoption hurdles, and Block appears to be addressing this by attaching meaningful financial incentives.
The giveaway comes during a period of subdued crypto sentiment. At the time of the announcement, Bitcoin was trading near $67,000, with the Crypto Fear and Greed Index deep in “Extreme Fear” territory.
By launching a free bitcoin campaign during a cautious market phase, Block appears to be betting that small BTC rewards distributed during downturns will foster longer-term engagement than promotions launched during bullish rallies.
While the campaign details are largely outlined, several questions remain unanswered:
- How quickly the $1 million pool may be depleted
- Whether rewards are issued instantly or after settlement delays
- Whether users must already own a Bitkey device to qualify for the $50 reward
Block has also not disclosed expected participation numbers. If demand is strong, the promotion could conclude before the April 10 deadline.
Although vastly different from its 2010 predecessor, Block’s Bitcoin Day campaign captures the original faucet’s spirit—introducing users to bitcoin through direct ownership rather than speculation.
For millions of Cash App users, even a small amount of free BTC could represent their first tangible interaction with the cryptocurrency, reinforcing Block’s long-term strategy of expanding real-world bitcoin usage.
