Square Established A New Bitcoin Fund
Square, another company founded by the Twitter CEO Jack Dorsey, created a new Bitcoin fund.
Square has established a new Bitcoin fund. Another payment company, founded by the CEO of Twitter’s, Jack Dorsey, has established a new BTC fund.
Through this $5 million fund, the company will support organizations and individuals around the world working on financial education and Bitcoin access in historically under-resourced communities. The amount in the established fund was provided from the interest income obtained from the company’s Bitcoin assets.
The new Bitcoin fund is Square’s $100 million investment initiative launched to promote financial inclusion and increase access to cryptocurrencies and other technologies among minority communities.
In a press release on the subject, Square mentioned Bitcoin as follows:
“Bitcoin can help provide equal opportunity and build a more inclusive future for historically discriminated communities, from those with no credit history and unable to open a bank account, to people living in places with limited access to banks.”
Square gave the first grant in the Bitcoin fund to the Black Bitcoin Billionaire organization, which wants to educate black individuals about Bitcoin and encourage the accumulation of Bitcoin as an alternative to traditional financial systems.
Square previously allocated $25 million to the Black Economic Development fund and $10 million to the Colored Entrepreneurs fund.