Jack Dorsey and Jay-Z create ₿trust endowment with 500 bitcoin, worth $23M+, to fund teams working on Bitcoin development, initially in Africa and India
Dorsey had already moved from personal advocacy to institutional support when Square planned a dedicated team to contribute to the Bitcoin ecosystem in an earlier Square-backed engineering effort. The new endowment extends that commitment beyond one company and directs support toward teams in Africa and India.
The initiative also precedes Dorsey and Jay-Z's Bitcoin education program in Brooklyn, showing their support developing across both technical development and public financial education.
First-order effects
Bitcoin development teams in Africa and India gain a prospective funding source backed by 500 bitcoin from Dorsey and Jay-Z.
Dorsey and Jay-Z become ongoing funders of Bitcoin development rather than solely public advocates or individual donors.
Second-order effects
Square's internal Bitcoin contributors now sit alongside an independently funded pool of teams, widening the set of organizations able to support work on the ecosystem.
The later Bitcoin Academy makes the pair's support model broader than developer funding alone, linking technical investment with education initiatives.
Third-order effects
If this funding model persists, Bitcoin ecosystem work may rely more on mission-driven endowments alongside company-sponsored engineering teams, diversifying who sets development priorities.
The focus on Africa and India points toward Bitcoin support programs being organized around regional developer and education networks rather than only corporate technology hubs.
The trend: High-profile Bitcoin backers are building durable funding and education institutions around the ecosystem, not just backing individual projects or companies.
JAY-Z/@S_C_ and I are giving 500 BTC to a new endowment named ₿trust to fund #Bitcoin development, initially focused on teams in Africa & India. It'll be set up as a blind irrevocable trust, taking zero direction from us. We need 3 board members to start: https://forms.gle/...
@joemccann
Joe McCann on x
Definitely a fad. https://twitter.com/...
@apompliano
Pomp on x
They need 3 board members for the blind trust. More info here: https://twitter.com/...
@yoda
Drew Olanoff on x
something something problems and crypto ain't one or something https://techcrunch.com/...
@nischalshetty
Nischal on x
As a community we need to spread more information around why India should positively regulate crypto A ban on crypto will set India back by 10 years in this sector. We'll lose any edge on this innovation while other countries race ahead #IndiaWantsCrypto https://twitter.com/...
@nischalshetty
Nischal on x
Amazing initiative for Indian developers Such initiatives won't be possible if India were to think of a crypto ban #IndiaWantsCrypto https://twitter.com/...
@gladstein
Alex Gladstein on x
If managed carefully, this will be one of the most significant philanthropic gifts in history. https://twitter.com/...
@justinsuntron
Justin Sun on x
I am happy to support and donate to ₿trust to fund #Bitcoin development. Africa & India is my top priority! https://twitter.com/...
@shivamshankars
Shivam Shankar Singh on x
Killing innovation with government policy is a time honoured Indian tradition! https://twitter.com/...
@kshashi
Shashikant Kore on x
Instead of banning crypto trading outright, make it as difficult as trading in F&O, which requires a lot of financial statements. https://twitter.com/...
@nixxin
Nikhil Pahwa on x
Meanwhile, India is making the mistake of banning bitcoin. Here's how it will go. 2021: India bans bitcoin 2021: Case in SC against banning bitcoin 2025: India realised it is losing out on a global, independent currency standard and reverses its decision. https://twitter.com/...