Jack Dorsey and Jay Z announce bitcoin fund as cryptocurrency goes mainstream

New York (CNN Business) Bitcoin's big week got bigger with an announcement from rapper Jay Z and Twitter CEO Jack Dorsey that the pair are establishing a bitcoin development fund.

Dorsey tweeted the news Friday, writing that they are taking applications for a "blind irrevocable trust" focused on Africa and India.

He promises the fund will have "zero direction" from himself and Jay Z and that the partners are searching for three board members.

Dorsey and Jay Z are investing 500 bitcoin into the project, currently worth roughly $23 million.

Bitcoin is already in Dorsey's portfolio.

His other company, Square, bought 4,709 bitcoins in October 2020, equal to $50 million at the time.

In 2018, the company expanded its mobile payment service Cash App to support bitcoin trading, even for users without a bank account.

And in 2019 it launched Square Crypto, which awards grants to bitcoin developers and designers.

Also this week, a Twitter executive said in an interview that the company is reviewing other new uses of the digital currency, including employee pay.

PS. In our blog pages we got hidden links where you can earn cryptocurrency for free.

Source: economictimes.indiatimes.com

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