Twitter CEO Jack Dorsey announced the creation of a Bitcoin Development Fund (BTC) worth 500 BTC ($ 23.7 million) with rapper Jay-Z for teams working on the project in India and Africa.
Dorsey announced the creation of the trust on February 12th, and sent a call to three board members who should watch the Blind Trust at first.
The board’s application form, called “Trust,” reveals the mission of “making Bitcoin the Internet’s currency”.
The Twitter chief’s tweet came hours after news of India’s alleged plans to completely ban the use of cryptocurrencies on its soil. According to an anonymous source speaking to Bloomberg, the world’s second most populous country could soon impose a ban on all cryptocurrencies, giving users a 3 to 6-month grace period to liquidate their assets.
On February 10, Jack Dorsey donated $ 1 million to the nonprofit Queen Center in Washington, DC, which also received a $ 2 million donation from Grayscale asset management company. Dorsey’s constant love for Bitcoin recently led to an entire Bitcoin node being installed on his Macbook, which means he now has a hand in verifying the Bitcoin chain.