Twitter CEO and Jay Z invest 500 BTC to make bitcoin the ”internet currency”
Through his social network, Jack Dorsey, the twitter Founder and CEO announced yesterday that he will donate, along with Jay Z, 500 bitcoins, approximately equivalent to $24 million, to a fund called Btrust, which will finance the development of bitcoin, initially focused on Africa and India. The entire project will be independent, and none of its creators will have power over decisions.
At first, Dorsey and Jay-Z are trying to hire three members that will form a council for the endowment. No further details were given on the selection process, but the Twitter CEO posted the application form to his account on the social network. The only description present is that the project’s mission is “to make bitcoin the currency of the internet”.
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: https://t.co/L4mRBryMJe
— jack (@jack) February 12, 2021