August 13, 2022

Twitter CEO donates 1 BTC to Bitcoin core development nonprofit

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Jack Dorsey, CEO of social media powerhouse Twitter, has donated 1 Bitcoin (BTC) to Brink, a nonprofit group focused on Bitcoin’s technological framework. 

“Honored to have received a 1 BTC donation to our developer funding efforts from none other than @jack!,” Brink’s Twitter account posted on Tuesday. At the time of publication, that Bitcoin is worth $46,824.

Reporting earlier this month showed the recently established organization receiving 503(c)(3) nonprofit status from the Internal Revenue Service, giving Brink a break on federal taxation.

The entity looks to further Bitcoin by helping out its developers, as noted on Brink’s 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 has expressed interest in Bitcoin before. In 2020, he referred to the asset’s white paper as poetic. In the fall of 2020, Square — another outfit Dorsey leads — also unveiled allocating $50 million to BTC. Dorsey took the 16th spot on Cointelegraph’s list of the top 100 people in the crypto industry this year.

Title: Twitter CEO donates 1 BTC to Bitcoin core development nonprofit
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Published Date: Tue, 23 Feb 2021 18:31:00 +0000