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Jack Dorsey Launches His Own Bitcoin (BTC) Cold Wallet

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Thu, 5/10/2023 - 13:08
Jack Dorsey Launches His Own Bitcoin (BTC) Cold Wallet
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Forbes has reported that the Twitter cofounder and its former CEO, who stepped down from the position long before Elon Musk bought the platform and began rebranding it into X, Jack Dorsey released his own Bitcoin hardware storage device, called BitKey. It has the shape of a small hexagon.

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Dorsey's Block kicks off BTC wallet

Dorsey is a well-known Bitcoin evangelist, who strives to expand BTC adoption, believing it can change the world. Dorsey does not believe in other cryptocurrencies, even in Ethereum, which he criticized several times for being centralized. He went as far as to urge the Apple team and CEO Tim Cook to integrate BTC into Apple's products.

The wallet was created by the company Block cofounded by Dorsey, where he went off to when he quit the position of Twitter CEO. Dorsey has been a vocal advocate of self-custody for Bitcoin and other digital currencies, and he stated many times that his company, Block, intends to create a hardware storage device, which excludes any intermediaries, such as crypto exchanges, for owning crypto.

Many remember the loud crash of the FTX giant in early November last year, when billions of USD in crypto suddenly became unavailable to the company's customers due to the poor management of its former CEO, Sam Bankman-Fried.

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Forbes stated that Block's wallet is intended for a wide customer audience and will have an affordable price. Currently, cold wallets for crypto can be bought for $50 and up to $200 per unit, depending on the maker.

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