Jack Dorsey Pledges $5M to Brink to Support Bitcoin Developers
Summary: Jack Dorsey, co-founder of Twitter and co-founder of Block Inc., has made a financial commitment to Brink, a Web3.0 center that aids the network's developers, with a total investment of $5,000,000 over 5 years, with $1,000,000 /year. Dorsey is regarded as a leading advocate for Bitcoin.
Jack Dorsey, Twitter’s co-founder, is tireless in his efforts to back the Bitcoin (BTC) protocol’s growth, and he has made a fresh financial commitment to Brink, a Web3.0 center that aids the network’s developers.
The blockchain company said that Jack Dorsey has promised a total of $5,000,000. The money distribution schedule is as follows: $5,000,000 over 5 years, with $1,000,000 /year.
Strong Bitcoin Advocate
Although Jack Dorsey is best known as the visionary CEO and co-founder of Twitter, he also co-founded Block Inc., the payments firm behind CashApp that facilitates Bitcoin trading.
Jack Dorsey is regarded as a leading advocate for Bitcoin’s continued open-source growth and development. The wealthy tech mogul has spent millions over the last several years to expand the use of the most popular cryptocurrency.
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In an interview with CNBC from 2021, Jack Dorsey said, “There is nothing more important in my lifetime to work on,” summing up his many commitments over the last several years.
Banking Totally on Bitcoin
Bitcoin is a cryptocurrency that is very volatile in a market that is unclear and constantly changing. Shares of Block, led by Jack Dorsey, have been volatile due to the company’s acceptance of Bitcoin and Dorsey’s involvement in the cryptocurrency ecosystem, despite Block’s varied business emphasis as a payment service.
Although the company is not in the business of supplying cryptocurrencies as its main product, it is nonetheless affected by market attitudes.
Other Bitcoin-related stocks, such as Microstrategy Inc and Coinbase Global Inc, are also mired in this reality, so it would be unfair to label Jack Dorsey’s Block Inc as the solitary corporate martyr for Bitcoin.