Twitter CEO donates 1 BTC to Bitcoin core development non-profit

Jack Dorsey, CEO of social media powerhouse Twitter, has donated 1 BTC to Brink, a non-profit group targeted on Bitcoin’s technological framework. 

“Honored to have obtained a 1 BTC donation to our developer funding efforts from none apart from @jack!,” Brink’s Twitter account posted on Tuesday. At time of publication, that Bitcoin (BTC) is value $46,824.

Reporting earlier this month confirmed the just lately established group getting 503(c)(3) non-profit standing from the Inside Income Service, giving Brink a break on federal taxation.

The entity seems to be to additional Bitcoin by serving to out its builders, as noted on Brink’s web site:

“Brink exists to strengthen the Bitcoin protocol and community by way of elementary analysis and improvement, and to assist the Bitcoin developer group by way of funding, training, and mentoring.”

Dorsey has expressed curiosity in Bitcoin earlier than. He referred to the asset’s white paper as poetic in 2020. Final fall, Sq., one other outfit Dorsey leads, additionally unveiled allocating $50 million to BTC. Dorsey took the 16th spot on Cointelegraph’s checklist of the highest 100 individuals within the crypto business this yr.