Bitkey was designed as a USB flash drive. Thomas Templeton, the head of the Bitcoin hardware division at Block, confirmed that this new hardware Bitcoin wallet aligns with Jack Dorsey's strategy for ensuring security and decentralization in the digital assets sector. He stated:
Bitkey users will be able to set limits on spending operations and rules, according to which any transactions exceeding the set amount will require additional confirmation.
In 2021, Jack Dorsey announced the development of a new hardware wallet and Bitcoin mining system. He urged the crypto community to support the decentralization of the Bitcoin ecosystem and improve access to secure storage and mining. Dorsey, the head of Block, also expressed concern that many in the crypto community still use trading platforms to store assets, contrary to the availability of alternatives.
