EXCLUSIVE

Twitter CEO donates 1 BTC to Bitcoin core development non-profit

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

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

Reporting earlier this month showed the recently established organization getting 503(c)(3) non-profit status from the Internal Revenue Service, giving Brink a break on federal taxation.

The entity looks to further Bitcoin by helping out its developers, as noted on Brink’s website:

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

Dorsey has expressed interest in Bitcoin before. He referred to the asset’s white paper as poetic in 2020. Last fall, Square, another outfit Dorsey leads, also unveiled allocating $50 million to BTC. Dorsey took the 16th spot on Cointelegraph’s list of the top 100 people in the crypto industry this year.