New Delhi: After Elon Musk stopping Tesla booking with Bitcoins and his cryptic tweets on the most popular cryptocurrency, Bitcoin was on a bumpy and tumultuous ride. Though Bitcoin has largely recovered but more positive developments lie in store for the crypto.
Twitter CEO Jack Dorsey is reportedly in talks to launch a hardware wallet for Bitcoin for those using its digital payments services company, Square.
The hardware wallet will be built entirely in the open in collaboration with the community, he said in a tweet on Friday.
“Bitcoin is for everyone. It’s important to us to build an inclusive product that brings a non-custodial solution to the global market,” he said.
Dorsey and rap artist Jay-Z announced that they will invest 500 bitcoins (approximately Rs 174 crore) in an endowment to fund Bitcoin development with a focus on India and Africa.
“Most people access the internet on mobile. Any solution we build must provide an excellent experience when using mobile, despite its shortcomings and liabilities. An uncompromising focus on mobile interaction is likely to include the most people,” he stressed.
Bitcoin stands at $36,000 all thanks to Tesla CEO Elon Musk whose single tweet took it to the ground.
Musk has come forward to help form a Bitcoin Mining Council that will promote energy usage transparency” and “accelerate sustainability initiatives worldwide.”
Musk earlier announced not to use the popular cryptocurrency Bitcoin as a payment mode to buy its electric vehicles, citing environmental harm. The currency nosedived, losing nearly 50 per cent of its value within no time, and is now hovering at around $38,000.
After applying brakes on Bitcoin as a payment mode to buy Tesla vehicles, Musk has also revealed that he might create his own cryptocurrency in the near future.
