The co-founder of Twitter, Jack Dorsey, has recently donated a substantial amount of $10 million to support the development of Bitcoin. The donation was made to the non-profit organization, OpenSats, which funds open source projects and other initiatives that aim to advance Bitcoin’s development.
Out of the total donation, $5 million will go towards the development of Nostr, a decentralized social network protocol that introduced the Bitcoin reward function called ‘Japs.’ The remaining $5 million will be allocated to support other projects that aim to promote the advancement of Bitcoin.
OpenSats has previously provided funding to the Bitcoin Policy Institute, a US think tank, and is known for its focus on open source projects and Bitcoin development, making it a popular choice for donations from individuals interested in supporting cryptocurrency development.
Jack Dorsey’s donation is noteworthy not only because of the significant amount but also due to his status in the tech industry. As the CEO of Square in the US and the co-founder of Twitter, he is a well-known figure in the field.
Dorsey’s interest in Bitcoin is also widely recognized. In 2019, he revealed himself to be a Bitcoin Maximalist, expressing his belief that Bitcoin would ultimately dominate the market, and he would only invest in Bitcoin.
His recent $10 million donation is likely to have a positive impact on the future of Bitcoin and inspire others in the tech industry to support its development. The move could further advance the development of the cryptocurrency and open source projects aimed at promoting its growth. Overall, Jack Dorsey’s support for Bitcoin development through his donation to OpenSats is a significant and positive development for the cryptocurrency’s future.
