Jack Dorsey’s Block Launches Hardware Bitcoin Wallet Across More Than 95 Countries
Amidst the evolving landscape of digital finance, Block, spearheaded by former Twitter CEO Jack Dorsey, revealed the launch of Bitkey, an innovative physical device tailored for secure Bitcoin storage.
Scheduled for delivery in early 2024, the Bitkey Bitcoin wallet boasts a price tag of $150 in the U.S., encompassing not only the device itself but also a charging cable, a mobile app, and an array of recovery tools, offering a comprehensive solution for crypto enthusiasts.
In an exclusive discussion with Fortune, Lindsey Grossman, the driving force behind Bitkey’s business endeavors, highlighted the widespread availability of the hardware wallet while emphasizing Block’s strategic focus on specific markets. Countries such as the U.S., Canada, U.K., Nigeria, Argentina, Mexico, and India take precedence in their strategy, foreseeing a substantial utilization of Bitcoin for both long-term savings and cross-border transactions.
Grossman refrained from divulging internal sales projections for the hardware wallet, clarifying that Bitkey currently refrains from conventional retail avenues. Nevertheless, Block remains open to potential collaborations and partnerships in the future.
The public unveiling of Bitkey follows an earlier open beta announcement made in June, underscoring Dorsey and Block’s unwavering commitment to Bitcoin integration across their multifaceted business ventures, despite Bitcoin’s secondary role in Block’s quarterly revenue stream.
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Dorsey’s unyielding advocacy for Bitcoin materialized in 2021 when he rebranded his payments entity as Block, symbolizing the organization’s unwavering dedication to integrating Bitcoin into its fundamental operations.
Beyond rebranding, Dorsey has actively channeled investments into Bitcoin-centric enterprises, including ventures into the realm of mining. His steadfast support for Bitcoin emanates from a shared belief within the Bitcoin community—a conviction that the cryptocurrency holds the potential to revolutionize financial access globally, particularly benefiting individuals in developing nations constrained by limited traditional banking avenues.