Twitter CEO Jack Dorsey and Rapper Jay Z Unveil Bitcoin Fund

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Twitter chief executive Jack Dorsey and rapper Jay Z announced they are establishing a Bitcoin development fund. Mr Dorsey tweeted on Friday that they are taking applications for a “blind irrevocable trust” initially focused on Africa and India. The fund will have “zero direction” from either Mr Dorsey or Jay Z and the partners are searching for three board members. The mission of the fund is to “make Bitcoin the internet’s currency”, according to job application for the fund.
Mr Dorsey and Jay Z are investing 500 Bitcoins, the world’s largest cryptocurrency, currently worth about $23 million, in the project. The move comes as Bitcoin finds more acceptance in the financial services and payments industry.


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