Summary
- Jack Dorsey, CEO of Block, has donated $10 million to Open Sats, a Bitcoin-focused social media network.
- Dorsey is a long-time advocate for Bitcoin and crypto.
- Open Sats aims to fund free and open-source projects related to Bitcoin.
Jack Dorsey Donates $10 Million to Open Sats
Former Twitter head and current chief executive of Block Jack Dorsey has pledged a $10 million donation to a non-profit called Open Sats. The money is slated to be fully, 100 percent put towards a bitcoin-focused social media network.
Jack Dorsey’s History With Bitcoin
Dorsey has long been a bitcoin and crypto advocate. He stated five years ago that he was convinced bitcoin would become the sole currency of the world, and that all other fiat currencies – like the euro, the yen, the U.S. dollar, etc. – would be wiped out. He also (prior to the COVID pandemic) pledged to spend three to six months touring Africa in order to get its people to adopt the ways of bitcoin and blockchain so they could benefit financially and otherwise.
Open Sats‘ Mission
Open Sats is based in Raleigh, North Carolina, and received its non-profit status back in 2021 per data site Charity Navigator. The company started out with less than $200K but this donation from Dorsey is likely going make a huge change for both the company and whatever projects it has on its roster. According to their website their mission is „to support and maintain a sustainable ecosystem of funding for free and open source projects,“ especially those relating do Bitcoin or helping it flourish further.
Jack Defends Developers Involved with Craig Wright Not long ago, Dorsey came to the aid of several developers who had previously worked for Australian computer scientist Craig Wright by creating a defense fund for them after they were named as defendants in his lawsuit against them .
< h2 >Conclusion All signs show that Jack Dorsey’s invested in promoting bitcoin through his donations as well as his actions such as creating defense funds for those involved with Bitcoin related activities. His goal seems clear: To help promote this digital currency into becoming an even more widely accepted form of payment throughout society worldwide