- Jack Dorsey, the former CEO of Twitter, has donated an incredible $21 million to OpenSats, a website that supports the growth of Bitcoin (BTC).
In a blog post published on May 4, the foundation revealed Dorsey’s donation and said the money would be used to support open-source initiatives, giving entrepreneurs all over the world access to vital funding.
Dorsey, who oversaw Twitter (now called X) from 2015 to 2021, subsequently acknowledged the contribution in a reply to a post made by tech expert and leaker Edward Snowden, who was alerting Bitcoin developers to the necessity of implementing privacy safeguards at the protocol level.
In addition to funding open-source initiatives, Dorsey’s contribution includes money set aside for a legal defense of Bitcoin developers. This shows how committed the CEO of Square is to the Bitcoin community and how much he believes it will change technology and banking.
Additionally, OpenSats announced that it is allocating $1 million to operating budgets, $5 million to the Nostr Fund, and $15 million to its General Fund.
Donations from people and organizations make up the General Fund, a fund intended to assist contributors and free and open source initiatives related to Bitcoin.
The Nostr fund helps to create Nostr, a decentralized social network that transmits and receives messages through relays. The site boasts an astounding 16 million users, half of whom are said to come in daily as a result of its explosive growth in popularity.
OpenSats has a track record of supporting various initiatives to broaden the Bitcoin community and support other open-source initiatives. They have previously sponsored 21 teams, including the Bitcoin Policy Institute and BTCPay Server, which enables users to handle payments on their own server.
OpenSats encouraged open-source developers in the blog post to submit without delay if they require funding. Developers worldwide are being invited by the group to apply at opensats.org/application in order to take advantage of this opportunity.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
