2024

Bitcoin

Million

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Jack Dorsey, the co-founder of Twitter, has donated $21 million to OpenSats, a non-profit organization dedicated to advancing Bitcoin and Nostr technologies. This sum stems from Dorsey’s #startsmall <a href="https://opensats.org/blog/opensats-receives-additional-funding-of-dollar21m-from-startsmall" target="_blank" rel="noreferrer noopener">initiative</a>, aiming to foster growth within these platforms and solidify Bitcoin’s role as the internet’s native currency.&nbsp; 
From the total donation, $15 million will go to the General Fund to back broad initiatives within the Bitcoin community, $5 million is earmarked for The Nostr Fund to advance this social media protocol, and the remaining $1 million will cover operational expenses. OpenSats highlights that these funds will aid ongoing and emerging projects critical to the ecosystem. 
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 OpenSats has received an additional donation of $21M from <a href="https://twitter.com/hashtag/startsmall?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#startsmall</a> – <a href="https://twitter.com/jack?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@jack</a>'s philanthropic initiative. $15,000,000 going to our General Fund. $5,000,000 to our Nostr Fund. $1M to our operations budget. Let us proceed together apace. Onward.<a href="https://t.co/RuXwF3kFpd" target="_blank">https://t.co/RuXwF3kFpd</a>— OpenSats (@OpenSats) <a href="https://twitter.com/OpenSats/status/1786715702235164824?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 4, 2024</a>
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OpenSats has a history of nurturing various proposals that align with its mission to expand the Bitcoin ecosystem. Previously, the organization has sponsored 21 teams, such as the Bitcoin Policy Institute and BTCPay Server, a self-hosted payment solution.&nbsp; 
Moreover, the organization has distributed nearly $10 million in grants, benefiting over 100 grantees. This funding has facilitated various projects and supported the legal defenses of Bitcoin developers facing challenges related to their work. 
Jack Dorsey’s latest financial support is poised to significantly boost the development of Bitcoin as both a currency and a technological standard for the internet. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Read Also: <a href="https://www.cryptotimes.io/2024/05/04/bitcoin-outperforms-amazon-and-google-with-12464-growth/" target="_blank" rel="noreferrer noopener">Bitcoin Outperforms Amazon and Google with 12,464% Growth</a> 
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Jack Dorsey Funds Bitcoin Expansion with $21 Million Donation

The Crypto Times

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