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New York (dpa) - Twitter boss Jack Dorsey and hip-hop mogul Shawn "Jay-Z" Carter set up a Bitcoin endowment fund together.
Dorsey announced on Friday by tweet that the two would use 500 Bitcoin as start-up capital, which currently corresponds to almost $ 24 million (EUR 20 million).
The fund should finance Bitcoin projects, initially with a focus on development teams in Africa and India.
Dorsey and Jay-Z are still looking for partners and have no plans to guide the foundation in the future.
It is designed as a so-called blind trust, so that the two cannot actively manage it.
In addition to Twitter, Dorsey also heads the payment service Square, with which he has been promoting the development of crypto currencies for a long time and invested in Bitcoin on a larger scale in October 2020.
The oldest and best-known cyber currency had a great week - on Monday it became known that Elon Musk's electric car maker Tesla had bought Bitcoin worth around 1.5 billion dollars and will accept the crypto money as payment in the future.
After that, announcements from Mastercard and the Bank of New York Mellon to open up to digital assets fueled the Bitcoin price even further.
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© dpa-infocom, dpa: 210213-99-421228 / 2
Dorsey tweet