Jack Dorsey Pledges $5M to Boost Bitcoin (BTC) Developer Community
Jack Dorsey, the renowned tech mogul and co-founder of Twitter, has dedicated a substantial amount of $5 million to support and facilitate the advancement of Bitcoin (BTC) protocol development.
The initiative gaining attention is Brink, an esteemed project committed to reinforcing the Bitcoin protocol and network through extensive research and development endeavors. In an exciting announcement on Twitter, Brink revealed that it is set to receive an annual funding of $1 million for the next five years from Jack Dorsey’s public LLC fund, known as “#smartsmall.”
The initial installment of $1 million was recently contributed on June 14th, as recorded in a Google Sheets document personally maintained by Dorsey to track his philanthropic contributions. Brink expressed its gratitude, emphasizing that the funds will significantly bolster their ongoing efforts in supporting and nurturing Bitcoin developers.
Brink takes immense pride in being entirely reliant on donations from both individuals and organizations that share a common goal of fostering the growth of the open-source Bitcoin network and protocol.
Jack Dorsey has undeniably established himself as a prominent advocate for Bitcoin, consistently championing its potential and advocating for its widespread adoption. His steadfast support for the cryptocurrency was further exemplified when leading U.S. crypto exchange Coinbase recently announced its collaboration with Bitkey, a self-custody wallet developed by Dorsey’s fintech company, Block. Dorsey himself enthusiastically promoted this new partnership on Twitter, urging users to “Buy Bitcoin from an exchange and move it to a hardware key you control.”
Initially established as a fund dedicated to global COVID-19 relief efforts, Dorsey’s #smartsmall fund has undergone a shift in focus, post-pandemic, towards initiatives such as girls’ health and education, as well as the concept of universal basic income (UBI). This transition showcases Dorsey’s unwavering commitment to making a positive and lasting impact on society beyond the realm of technology.
By generously allocating $5 million to support Bitcoin (BTC) protocol development, Jack Dorsey exemplifies his enduring dedication to the advancement and flourishing of the cryptocurrency ecosystem.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.