Welcoming Bitcoin Halving Day, What are the Benefits for Investors?

Previously, the former CEO of Twitter, Jack Dorsey would make a donation of USD 5 million or the equivalent of IDR 74.8 billion (assuming an exchange rate of IDR 14,961 per US dollar) to encourage the Bitcoin ecosystem.

Reporting from Decrypt, Saturday (17/6/2023), this donation will be made by Dorsey to Brink, a key funder of open source developers in the Bitcoin space. USD 5 million will be provided to Brink for five years or approximately USD 1 million per year. The funds will be donated through the Start Small initiative, a charity started by Dorsey in 2020, originally dedicated to relief amid the COVID-19 crisis.

Brink grants allow core developers who support the world’s largest cryptocurrencies, such as Fabian Jahr, to work on the network full time. Bitcoin wouldn’t work without a global network of developers supporting it and improving it over the years.

Brink funds Bitcoin and Lightning developers working to improve the technology, making integral improvements to its privacy and scalability, in hopes of extending the digital payment system to a larger audience.

Jack Dorsey Donation for Bitcoin

Dorsey has given away millions of dollars over the past few years to power Bitcoin enhancement efforts, including founding Spiral, a nonprofit dedicated to developers.

Last month, he donated USD 10 million or equivalent to Rp. 149.6 billion to OpenSats, another non-profit dedicated to encouraging the development of open source Bitcoin.

At the end of last year, he donated at least 14 BTC to fund the development of Nostr, a decentralized social media protocol that has recently started to thrive.