If Jack Dorsey, CEO of both Twitter and Square, isn’t heralding wide-scale adoption of bitcoin, no one is.
The tech entrepreneur’s 4.15 million Twitter followers now know that he owns a Trezor hardware wallet and he used BTC to make the purchase via the Square Cash app. At the current BTC price, he paid approximately $261.54 for the device (and presumably some accessories).
Dorsey killed two birds with one stone, so to speak, by demonstrating the ease in which the app works and illustrating good security habits for crypto newbies who might be following his lead. Now that he is scooping $10,000 worth of bitcoin each week, which is the cap set by the Square Cash app, Dorsey needed somewhere to safely store his funds. By announcing that he selected hardware security wallet Trezor as his device of choice, he gave Prague-based SatoshiLabs, which is the maker of the hardware wallet, some free press, which they ate up.
— Trezor (@Trezor) March 8, 2019
If you’re wondering why Dorsey chose Trezor over competing crypto hardware wallet Ledger, you’re not alone. His Twitter followers asked him the same thing, in response to which Jack pointed to the open-source nature of Trezor. As one follower stated and Jack agreed: “Ledger is great too, but it’s not fully open source. Their firmware is not open source due to vendor NDAs, as I understand it.” It warranted a response by Ledger:
Hello @jack and thank you for raising awareness about Bitcoin! The security model of hardware is quite complex,