Jack Dorsey Says Square Is Considering Developing a Bitcoin Hardware Wallet
“If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community,” Dorsey said in the Twitter thread.
CEO Jack Dorsey tweeted the still to-be-named division's "primary focus" would be bitcoin.
“We’re doing it,” tweeted Jack Dorsey, the fintech’s CEO.
Cash App's bitcoin gross profit rose to $55 million, Square said in its second-quarter letter to shareholders.
Of the remaining $25 million, $5 million was distributed to create The Bitcoin Endowment.
The announcement comes as the environmental impact of mining for the world's largest cryptocurrency has come under intense scrutiny.