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Wednesday, May 12, 2021

Possibility Of A Corporate Bitcoin Investment Sparks Off After Twitter CEO Makes $1 Million Donation To Coin Center

Two interesting developments related to Bitcoin happened in the Twitter office recently. The company’s CEO Jack Dorsey made a lump sum donation of $1million to the cryptocurrency think tank, Coin Center. In another news, the company’s Chief Technology Officer has suggested that Twitter could initiate a corporate investment in Bitcoin soon.

Both the decisions are noteworthy in the sense that they will affect the Bitcoin market in a considerable way. The popular social media company announced recently that the possibility of a corporate Bitcoin investment is seemingly becoming more crucial given the current situation of the crypto market.

Bitcoin Investment Is A Future Possibility, Right Now They Are Thinking About It

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The crypto policy think tank, Coin Center’s CEO officially announced the generous contribution of Jack Dorsey in a Twitter post this Wednesday, February 10th. He further mentioned that the donation has been immensely helpful for them to outdo their fundraising goals. The think tank had also received a donation of $1 million from Grayscale last month. An additional $100,000 was also donated by the Bitcoin exchange Kraken. These lumpsum donations flow in after the company made groundbreaking progress in wallet tracking and stablecoin regulations.

The Twitter CEO has always shown his support to BTC. He considers it as a foundational digital technology that is not under the control of a single entity or individual.

Along with this, Twitter CTO, Ned Segal also suggested in a CNBC interview that the company is pacing towards starting a corporate investment in the leading cryptocurrency, a move that will add Bitcoin to the balance sheet of Twitter. He further stated that the company is still studying the matter and how the market functions. He clarifies that they have not made any changes to their system yet.

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