Jack Dorsey Pledges $10M for Bitcoin Advancement

May 7, 2023

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Jack Dorsey Pledges $10M for Bitcoin Advancement

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Key Point

Jack Dorsey wants to make Bitcoin the currency of the internet

Using Bitcoin to pay for everything on the internet or a world where Bitcoin rules everything, is exactly what the former Twitter boss is driving at, he never stops facilitating Bitcoin adoption.

Jack Dorsey Donates $10 Million for BTC and Internet Advancement

Being one of the leading figures in the tech space, and to facilitate the participation of people in the tech space in Bitcoin advancement, the former Twitter boss has taken more steps ahead to make Bitcoin the “native currency of the internet,” more like using Bitcoin to pay for anything on the internet.

Per a tweet by OpenSats, Jack Dorsey through OpenSats has pledged $10 million for the advancement of Bitcoin.

We have received $10M in additional funding that will be used to support free and open source software. ????https://t.co/KCU8oq4wcE pic.twitter.com/cKnXnkG2tX
— OpenSats (@OpenSats) May 4, 2023

OpenSats is a non-profit organization that is focused on funding open-source projects for advancing the development of Bitcoin.

$5 million of the donations will be set aside for the development of Nostr, a social protocol developed by a pseudonymous creator called Fiatjaf that introduced Jabs, a BTC reward function.

The $5 million left will be used for advancing the development of the Bitcoin internet advancement.

“We want to create a sustainable, independent and consistent ecosystem of funding for Bitcoin, Nostr, and other open-source projects,” said OpenSats, adding that:

“Having multiple open-source contributors on our board tenured core devs among them helps us to better understand what is needed to put effective long-term support structures into place.”

The former Twitter boss has been a pro-Bitcoin for a long time, although, he has never at any time revealed how much Bitcoin he’s holding, but the media usually describe Dorsey as a Bitcoin maximalist.

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