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Jay-Z and Jack Dorsey bullish on bitcoinINTL

Jay-Z and Jack Dorsey bullish on bitcoin

Need another reason to buy more bitcoin (BTC)?

Last week, the CEO of Twitter (TWTR) and Square (SQ), Jack Dorsey, joined forces with American rapper and entrepreneur Jay-Z to “make bitcoin the internet’s currency”.

Dorsey and Jay-Z, who are homies and business partners, hope to make the crypto asset a legitimate currency in Africa and India. They contributed about $23.5m worth of bitcoin into an endowment fund that is set up as a blind irrevocable trust – meaning it will take zero direction from the board members, including the duo.

Dorsey has long been a proponent of bitcoin. In fact, last year, Square invested $50m into the cryptocurrency, which has grown to now be worth over $220m!

why it matters
Jack Dorsey and Jay-Z are using their star power and influence to further integrate bitcoin as a legitimate world currency. With all the hype around Bitcoin these days, the cryptocurrency is continuing its 2021 rally towards a value of $50,000.