Jack Dorsey and Jay-Z
Twitter boss and rapper launch Bitcoin endowment fund
Jay-Z teams up with Jack Dorsey
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Jack Dorsey and Jay-Z work together. The Twitter boss and the hip-hop mogul set up a joint Bitcoin endowment fund.
Twitter boss Jack Dorsey (44) and rapper Jay-Z (51, "Everything Is Love"), real name Shawn Carter, set up a joint Bitcoin endowment fund. Dorsey announced the joint project on Friday via Twitter at. The two want to use 500 Bitcoin (BTC) – currently around 24 million US dollars – as start-up capital to finance Bitcoin projects. The focus is initially on development teams in Africa and India, Dorsey said in the tweet.
The foundation fund called "Btrust" is designed as a so-called "blind trust", Dorsey and Carter will not actively manage it. Therefore, one is currently looking for three board members, announced the Twitter boss.
For Jack Dorsey, who co-founded the short message service Twitter in 2006, it is not the first digression into the world of cryptocurrencies. In 2009 he launched the online payment service Square, with which he promotes the development of cryptocurrencies.