Twitter CEO, Jack Dorsey Donates 1 BTC to Non-profit to Support Developers

By Ibiam Wayas February 24, 2021 In Bitcoin, Crypto News

Again, the tech billionaire and CEO of Twitter, Jack Dorsey, has demonstrated his strong support for the development of Bitcoin (BTC). On Tuesday, he donated Bitcoin to Brink, a non-profit organization focused on funding BTC developers. This is coming a few days after Dorsey teamed with Shawn Corey Carter (a.k.a Jay Z), to launch a new endowment trust aimed at funding the cryptocurrency developers in different countries in Africa, including India.

Brink Receives Over $45K Donation From Twitter CEO

The non-profit organization announced the development on Twitter, saying that Dorsey donated 1 BTC in support of their BTC developers funding efforts. “Honored to have received a 1 BTC donation to our developer funding efforts from none other than @jack!,” Brink precisely wrote. The organization actually holds a 503(c)(3) non-profit status from the United States Internal Revenue Service (IRS). This means they don’t have to pay tax on the cryptocurrency received.

At the time of writing, one Bitcoin was worth US$47,149. This fund will be committed to further strengthen the development of Bitcoin, as Brinks pledged on its website:

“Brink exists to strengthen the Bitcoin protocol and network through fundamental research and development, and to support the Bitcoin developer community through funding, education, and mentoring.”


Dorsey: A Big-time Bitcoin Supporter

Unarguably, the CEO of Twitter is one of biggest individuals quietly supporting the development of Bitcoin around the world. Following his partnership with the American rapper, he precisely raised about 500 BTC to fund Bitcoin developers in Indian and Africa countries. These coins would be worth over $23.5 million in today’s price.

It might also interest you to know that Jack Dorsey recently set-up his own Bitcoin node, and so, he’s now among the active persons who are helping to keep the crypto network more secure, as Crypto News Australia reported.

Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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