Square to move ahead with hardware wallet for bitcoin

July 22, 2021

Square (NYSE:SQ) will proceed with building a hardware wallet and service "to make bitcoin custody more mainstream," Square Hardware Lead Jesse Dorogusker said.

"Our next step is to build a small, cross-functional team" that will be led by Max Guise, Dorogusker said. "We will incubate this full-stack of tech, design, product, manufacturing, and supply chain," he added.

Early in the morning, Elon Musk was talking down bitcoin and talking up dogecoin, saying "BTC & ETH are pursuing a multilayer transaction system, but base layer transaction rate is slow & transaction cost is high."

He said he sees merit in doge "maximizing base layer transaction rate & minimizing transaction cost with exchanges acting as the de facto secondary layer."

Over the current book year the total revenu from the company based in San Francisco will be 20 billion USD (consensus estimates). This is hugely more than 2021's revenue of 9.5 billion USD.

Historical revenues and results Square Inc plus estimates 2021

The analysts expect for 2021 a net profit of 788 million USD. Most of the analysts anticipate on a profit per share of 1.52 USD. Based on this the price/earnings-ratio is a significant 162.15.

For this year analysts don't expect the company to pay a dividend.

Square Inc 's market capitalization is around 86.85 billion USD. 94

Historical stock prices Square Inc period 2007-2021

At 21.37 the stock trades 4.52 percent higher at 246.47 USD.

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