Recently, Jack Dorsey, Twitter CEO – till May 2022 donated a massive amount of $21M to OpenStats. In fact, Dorsey also predicted that Bitcoin has the potential to reach $ 1 million in 2030
What is the buzz all about?
Let’s read everything in detail below.
The Breaking News – Twitter CE
Co-founder of Twitter Jack Dorsey has donated millions to OpenSats in support of decentralized social media and Bitcoin. This contribution has strengthened the argument that BTC is the native currency of the internet.
Donation Pattern –
- $ 15 million has been donated from his #startsmall initiative for OpenSats General Fund
- $ 5 million has been donated to The Nostr Fund.
- A donation of $ 1 million has been made for operational budgets.
Will This Funding Be Beneficial For Bitcoin Development?
Even though the future remains unpredictable, the funding by Jack Dorsey will go towards a number of important projects & initiatives for the Bitcoin ecosystem, such as Nostr, which has 16 million users and recently integrated Bitcoin payments.
The main aim of the donation is to promote Bitcoin’s growth as a medium of exchange and technological standard with special emphasis on legal defense for developers facing legal issues.
In fact, OpenSats has appointed new members to its committee and board, emphasizing teamwork and strategic planning and promoting open-source technology. This funding in general, reflects Dorsey’s vision of a decentralized network where users have more control over their digital activities.
Will Bitcoin be one of the best 10 cryptocurrencies to invest in May?
Well, as per our analysis, BTC is expected to give good potential returns in the future.
Everything About OpenSats
OpenSats is a non-profit organization with an aim to fund contributors of Bitcoin core and related free and open-source projects.
This public charity strives to sustainably support & nurture an ecosystem of funding for open-source, free projects and contributors, especially those associated with or contributing to the growth of Bitcoin in general.
Bitcoin Projects –
OpenSats provides funding for a variety of Bitcoin Projects like –
- Development of new Bitcoin & bitcoin-adjacent software
- Improvement of existing free and open-source software
- Education and outreach about bitcoin
- Research into Bitcoin-related topics
“We believe that by supporting these projects, we can help make Bitcoin more accessible, robust, secure, and decentralized. We also believe that these projects have the potential to revolutionize the way we think about individual sovereignty and liberty.”
And that’s a wrap!
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Disclaimer: This post is intended solely for informational purposes and should not be taken as legal, tax, investment, financial, or any other form of advice. Although all the information provided is true to the best of our knowledge, it is advisable to research well before making any kind of investments or decisions in general. The team of ReadingCrypto bears no responsibility in the event of any adverse outcomes.
