Jack Dorsey donates $5 million to support Bitcoin developers

Jack Dorsey, co-founder and former CEO of Twitter and founder and CEO of Block (formerly Square), will provide $5 million to support Bitcoin developers. Funding will be provided through the Dorsey Start Small Foundation.

Dorsey has committed to donating $1 million annually to developers over the next five years.

The non-profit organization Brink, which will receive funds from Dorsey, was founded by Bitcoin developers John Newbery and Mike Schmidt.

The Start Small Foundation is an initiative that was launched in April 2020 to help fight the COVID-19 pandemic. Dorsey invested $1 billion in the fund and promised to distribute funds to various projects related to healthcare, education, philanthropy and technology.

Dorsey is one of the most dedicated supporters of bitcoin and considers it the “native currency of the internet.” He has also invested in renewable energy mining and launched his own full bitcoin node. So since 2021, it has been helping to verify transactions in the network of the first cryptocurrency.

Dorsey also repeatedly said that the future of Twitter is in bitcoin, artificial intelligence and decentralization. He believes that the first cryptocurrency could become the only currency in the world by 2030. True, Dorsey is no longer in charge of the most beloved social network of all cryptans and has almost no influence on decisions regarding its future.

▼
The most interesting and important news on our channel in Telegram