Twitter CEO Donates 1 BTC to Bitcoin Development Nonprofit

Jack Dorsey, CEO of Twitter, the social media powerhouse, has donated 1 BTC to Brink, a non-profit group focused on the Bitcoin tech framework.

“It is an honor to have received a donation of 1 BTC for our developer funding efforts from none other than @jack!”, public Brink’s Twitter account on Tuesday. At press time, Bitcoin (BTC) is worth $ 46,824.

Reports earlier this month showed that The newly established organization earned 503 (c) (3) nonprofit status from the Internal Revenue Service, giving Brink federal tax relief.

The entity seeks to promote Bitcoin by helping its developers, as indicates on Brink’s website:

“Brink exists to strengthen the Bitcoin network and protocol through fundamental research and development, and to support the Bitcoin developer community through funding, education, and mentorship.”

Dorsey has expressed interest in Bitcoin before. He referred to the asset’s white paper as poetic in 2020. Last fall, Square, another team Dorsey leads, also revealed the $ 50 million allocation to BTC.. Dorsey was ranked 16th on Cointelegraph’s list of the Top 100 people in the crypto industry this year.

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