Jack Dorsey, CEO of the social media powerhouse Twitter, donated 1 BTC to Brink, a nonprofit group focused on the Bitcoin technology framework.
“We are honored to have received a BTC 1 donation for our developer funding efforts from none other than @jack!” Posted Brink’s Twitter account on Tuesday. At the time of publication, this Bitcoin (BTC) is worth $ 46,824.
Reporting earlier this month revealed that the recently formed organization was given 503 (c) (3) non-profit making status by the Internal Revenue Service, which gave Brink a break in federal taxation.
The company aims to keep developing Bitcoin by helping its developers, as stated on Brink’s website:
“Brink exists to empower the Bitcoin protocol and network through fundamental research and development, and to support the Bitcoin developer community through funding, training, and mentoring.”
Dorsey has previously expressed an interest in Bitcoin. He described the asset’s white paper as poetic in 2020. Last fall, Square, another Dorsey-run company, revealed the $ 50 million allocation to BTC. Dorsey was ranked 16th on Cointelegraph’s list of the Top 100 People in the Crypto Industry that year.