Twitter CEO Jack Dorsey Partner with Jay Z to Invest in Bitcoin Initiatives

Twitter and Square CEO Jack Dorsey and Roc Nation founder Jay Z have created an endowment to fund bitcoin development initially in Africa and India, Dorsey said Friday.

The duo is putting 500 bitcoin, which is currently worth $23.6 million, in the endowment called ₿trust. The fund will be set up as a blind irrevocable trust, Dorsey said, adding that the duo won’t be giving any direction to the team.

₿trust is looking to hire three board members. The mission of the fund is to “make bitcoin the internet’s currency,” a job application describes.

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