Jay-Z and Twitter CEO Jack Dorsey are starting a Bitcoin fund

WORDS BY
Alina Amin

DATE
15.02.2021

CATEGORIES
News     

Blind trust

Jay-Z and Twitter CEO Jack Dorsey are starting a Bitcoin endowment fund. Dorsey announced on Friday that they’re planning to invest 500 Bitcoins, which is worth 24.5 million dollars at current prices.

The idea behind their new venture is funding Bitcoin development with a focus on India and Africa. It will be set up as a blind irrevocable trust, meaning it won’t take any direction from its founders once it is set up. Now, they’re looking for three board members.

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