Jack Dorsey, the CEO of Twitter, has donated 1 Bitcoin (BTC) to Brink, a nonprofit group focused on Bitcoin’s technological framework.
Brink’s Twitter account posted:
“Honored to have received a 1 BTC donation to our developer funding efforts from none other than @jack!”
It has been reported that earlier this month, it showed that the recently established organization is receiving 503(c)(3) nonprofit status from the Internal Revenue Service, giving Brink a break on federal taxation.
However, the entity looks to further Bitcoin by helping out its developers, as noted on Brink’s website:
“Brink exists to strengthen the Bitcoin protocol and network through fundamental research and development, and to support the Bitcoin developer community through funding, education, and mentoring.”
Dorsey has expressed interest in Bitcoin before. In 2020, he referred to the asset’s white paper as poetic.
Twitter's CEO gives $BTC to an up-and-coming non-profit, @benjaminpirus reports. https://t.co/gMWPCoz7QH — Cointelegraph (@Cointelegraph) February 23, 2021
Thus, in the fall of 2020, Square, another outfit Dorsey leads, also unveiled allocating $50 million to BTC.