Bitcoin foundation founded by Jack Dorsey and Jay-Z

Twitter CEO Jack Dorsey and rapper Jay-Z have launched a Bitcoin fund that aims to improve the spread of BTC in emerging markets and manifest Bitcoin’s reputation as an internet currency.

It’s no secret that Twitter boss Jack Dorsey is one of the most prominent representatives of the Bitcoin community. Dorsey has also proven his philanthropic streak several times. For example, in April 2020, Jack Dorsey donated one billion US dollars to fight Covid-19. With his latest prank, Dorsey brings Bitcoin and philanthropy together: On February 12, the Twitter boss announced that he would provide 500 BTC for the development of Bitcoin. Together with the rapper Jay -Z, Dorsey has set up a blind trust that will initially finance projects in Africa and India.

“Jay-Z and I are giving 500 BTC to a new foundation called ₿trust to fund #bitcoin development, which will initially focus on teams in Africa and India. It will be set up as a blind irrevocable trust company with no instructions whatsoever from us, we need 3 board members to start.

Jack Dorsey via Twitter

The mission of the new foundation of Jack Dorsey and Jay-Z can be seen from the attached application form. According to this, BTC should become nothing less than the currency of the Internet.

Jack Dorsey on Bitcoin course

The advance comes a few days after Twitter CFO Ned Segal announced that the social media giant is actively exploring the possibilities of whether and how Bitcoin can make its way into the company’s balance sheet. Bitcoin salaries are also not excluded. Jack Dorsey had previously announced that he had put a Bitcoin full node into operation.

In view of the fact that Dorsey’s Twitter profile has consisted of nothing more than the Bitcoin logo for over a year (which he recently found a prominent imitator in Elon Musk), the step seems just as logical as the decision to work with Jay-Z to advance bitcoin adaptation in emerging markets.

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