As announced on Jack Dorsey’s twitter profile, he and rapper Jay-Z gave out a collective 500 BTC, currently worth a little more than $23.5 million, to develop a blind Bitcoin trust in Africa and India. Dorsey’s tweet notes that the new endowment would be named “₿Trust.” Furthermore, it also revealed the initiative’s straightforward yet enticing mission statement, to make BTC the currency of the internet.
This isn’t the first time Dorsey advocated for the prospect of turning BTC to be the currency of the internet. On the Joe Rogan podcast back in 2019, Dorsey stated that the internet would have its own native currency in the near future. Dorsey’s strong support for the crypto could also be evidenced by his announcement last week that he now officially runs his very own BTC node.
Surprising as it may be, Dorsey and Jay-Z’s announcement of an Indian BTC trust development came closely following the news that the country is once again in the effort to ban cryptocurrencies. According to Bloomberg’s report, the country with the 2nd most population in the world today is now giving all crypto users within its borders 3 to 6 months to liquidate all of their holdings before the country officially bans crypto utilization.