After investing $170 million in bitcoin in February 2021, payment solutions specialist Square is taking another step into the crypto world by announcing a dedicated hardware for storing bitcoins.
Jack Dorsey's Square, the company that provides payment solutions to businesses, will launch a hardware wallet for bitcoin, Jesse Dorogusker, the company's director of hardware, announced on Twitter. Jack Dorsey, founder of Square in 2009 and a big bitcoin enthusiast, floated the idea back in June. "If we do it, we'll do it in a completely open way, from the software design to the hardware design," he had announced.
By launching a cryptocurrency wallet, the company would be competing with companies such as Ledger. Square already offers Cash App, an application that allows, among other things, to buy and sell bitcoins. As of February 2021, Square had also acquired $170 million worth of bitcoins. According to Bitcoin Treasuries, the company would hold today 8027 bitcoins for a value, Friday, July 9, of about $ 264 million.
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