Jack Dorsey Pledges $5,000,000, Supporting Bitcoin (BTC) Developer Community

The tech mogul Jack Dorsey has just made an important move for the crypto dev space. Check out the latest details about this below.

Jack Dorsey, a prominent figure in the tech industry, has committed to donating $5 million towards supporting the development of the Bitcoin (BTC) protocol.

Brink, an initiative that focuses on enhancing the Bitcoin network through research and development, shared on Twitter that they will be receiving $1 million in funding annually for the next five years from Dorsey’s public LLC fund, which goes by the name “#smartsmall.”

The fund donated the first $1 million payment on June 14th – this is according to a Google Sheets document Dorsey uses to track its donations. Brink notes the cash will support its developer funding efforts.

Brink says on its website that it is “100% funded by donations from individuals and organizations who wish to support the open source Bitcoin network and protocol.”

The billionaire co-founder and former CEO of Twitter, Dorsey, has been a prominent advocate for Bitcoin for quite some time.

Recently, Coinbase, a leading US crypto exchange, revealed its intention to incorporate Bitkey, a self-custody wallet created by Dorsey’s fintech firm, Block. Dorsey promoted the new collaboration on Twitter.

“Buy Bitcoin from an exchange and move it to a hardware key you control.”

According to an investor who accurately predicted the 2022 crypto low, the markets may be preparing to follow the bullish trend of the stock market.

Chris Burniske, a partner at venture capital firm Placeholder, shares with his 261,600 Twitter followers that cryptocurrency tends to rise when the Nasdaq 100 index (NDX) takes a break.

He references data from Glassnode founders Jan Happel and Yann Allemann, who have observed that Bitcoin (BTC) has experienced significant rallies numerous times after the NDX has cooled off since 2019.