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Square (SQ) is Considering Making A Hardware Wallet for Bitcoin

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(Updated - June 4, 2021 11:44 AM EDT)

Square (NYSE: SQ) is considering making a hardware wallet for Bitcoin, said CEO Jack Dorsey on Twitter.

Shares gained following the comments, climbing 3%.

Square is considering making a hardware wallet for #bitcoin. If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community. We want to kick off this thinking the right way: by sharing some of our guiding principles.
— jack (@jack) June 4, 2021

2/“No keys, no cheese.” The exchange you used to buy your bitcoin probably attends to your security with good intent, but circumstances may reveal “custody” actually means “IOU.” Deciding to take custody, and security, of your bitcoin is complicated. What’s the #1 problem here?
— jack (@jack) June 4, 2021