Square CEO Jack Dorsey says the company is considering a new hardware bitcoin wallet

Square CEO Jack Dorsey said on Friday the company is looking into building a hardware bitcoin wallet that would give consumers greater control over the cryptocurrency they own. Shares of Square rose about 2.7% on Dorsey's comments, published on his Twitter feed.Bitcoin transactions have become a booming business for Square, which allows consumers to make purchases using the Cash App and store the currency digitally. Bitcoin revenue at the company climbed to $4.75 billion last year from $516.5 million in 2019.Dorsey is proposing a new way for users to store their bitcoin so that it's not controlled by Square or any other company. A bitcoin wallet could allow users to store the cryptocurrency in a secure gadget and let them choose to spend it later."Square is considering making a hardware wallet for bitcoin," Dorsey said. "If we do it, we would build it entirely in the open, from software to…

Read the original article here