Jack Dorsey, Jay-Z Put 500 Bitcoin Into Trust Supporting Africa and India

"It‘ll be set up as a blind irrevocable trust, taking zero direction from us," said Dorsey.

Feb 12, 2021 at 10:11 a.m. UTC
Updated Sep 14, 2021 at 12:10 p.m. UTC

Twitter CEO Jack Dorsey announced Friday that he will partner with rapper Jay-Z and donate 500 bitcoin (currently worth about $23.6 million) to set up a new endowment trust supporting Bitcoin development in Africa and India.

  • Bitcoin advocate Dorsey tweeted the funds will go into a new endowment trust named “₿trust” initially focused on those two regions.
  • "It‘ll be set up as a blind irrevocable trust, taking zero direction from us," said Dorsey.
  • Dorsey shared a link for potential ₿trust board members to apply to help oversee the trust.
  • On Wednesday, Dorsey donated $1 million to cryptocurrency policy think tank Coin Center, according to an announcement tweeted by the organization's director Jerry Brito.

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