Twitter chief Jack Dorsey yesterday announced that he and rap mogul Jay-Z are creating a fund devoted to making bitcoin digital money “the internet’s currency.”
Dorsey, who is also founder and chief of financial services and mobile payments firm Square, said in a tweet that he and Jay-Z are giving 500 bitcoin to fund an independent endowment called “B-trust.”
That amount of the cryptocurrency was worth about US$24 million yesterday.
Launched in 2009, bitcoin has been on a meteoric rise since March, when it stood at US$5,000, spurred by online payments giant PayPal saying it would allow account holders to use cryptocurrency.
