It’s no news that Twitter’s CEO Jack Dorsey is a significant supporter of the cryptocurrency industry, especially Bitcoin. The Twitter CEO had even induced the term “Bitcoin” into his bio and prolonged the same, This time, Dorsey took a leap to make Bitcoin, the currency of the internet.
Dorsey seemed to have a helping hand in his latest venture. Prominent American rapper, Jay-Z seemed to be diving into the crypto-verse. While it is no doubt that the crypto industry has lured in an array of celebrities with its recent price change, Jay-Z and Jack Dorsey’s latest move could elevate these numbers.
Jack Dorsey To Set Up A Bitcoin Trust
Like always, Dorsey took to Twitter to reveal his latest move. In a tweet, the CEO of Twitter announced that he was setting up a trust to fund Bitcoin development in the African and Indian markets. In the tweet, he affirmed that he was taking on this project with Jay-Z.
The tweet read,
“JAY-Z/@S_C_ and I are giving 500 BTC to a new endowment named ₿trust to fund #Bitcoin development, initially focused on teams in Africa & India. It‘ll be set up as a blind irrevocable trust, taking zero direction from us. We need 3 board members to start:”
The tweet also consisted of an application form for the potential board members of the trust.
The internet transformed to become the daily bread of many. Dorsey has time and again exerted the importance of giving the internet its own currency. With this latest project, he hopes to make Bitcoin the currency of the internet.
Previously, when the former President of America, Donald Trump was banned from Twitter, Jack Dorsey took to Twitter to explain the reason behind it. During this course, he went on to endorse the king coin and revealed why he had tremendous passion for BTC. His tweet read,
“The reason I have so much passion for #Bitcoin is largely because of the model it demonstrates: a foundational internet technology that is not controlled or influenced by any single individual or entity. This is what the internet wants to be, and over time, more of it will be.”