Bitcoin
Jay-Z, Jack Dorsey to Invest Bitcoin Worth $24.6 Million in Africa, India
Jay-Z, Jack Dorsey to Invest Bitcoin Worth $24.6 Million in Africa, India
The Chief Executive Officer (CEO) of Twitter, Jack Dorsey, and the world’s leading rapper, Jay-Z, have announced they would be investing 500 Bitcoin, presently estimated at $24.638 million, in an endowment fund called ₿trust to deepen Cryptocurrency adoption in Africa and India.
In a Twitter post on Friday, Jack Dorsey said “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.”
The fund is being set up as a blind trust with zero direction from the two.
According to a board member application attached to the tweet, the fund’s mission statement is to “make bitcoin the internet’s currency“.
The Twitter CEO linked to an application form for the board of ₿trust, adding that the fund’s mission statement is to “make bitcoin the internet’s currency”.
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