New York: Twitter chief Jack Dorsey put out word that he and rap mogul Jay-Z are creating a fund devoted to making bitcoin digital money “the internet’s currency.”
Dorsey, who is also founder and chief of financial services and mobile payments firm Square, said in a tweet that he and Jay-Z are giving 500 bitcoin to fund an independent endowment called “Btrust.”
“It will be set up as a blind irrevocable trust, taking zero direction from us,” Dorsey said, adding that the fund would initially focus on bitcoin development teams in Africa and India.
Launched in 2009, bitcoin has been on a meteoric rise since March, when it stood at $5,000, spurred by online payments giant PayPal saying it would allow account holders to use cryptocurrency.
