head - Jack Dorsey And Jay Z Spends Big On 500 Bitcoin
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Jack Dorsey And Jay Z Spends Big On 500 Bitcoin

Twitter CEO Jack Dorsey and famous rapper Jay Z have just created this endowment called ₿trust to support and fund the development of Bitcoin in India and Africa.

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Jack Dorsey freeky for Bitcoin

Together they have managed to put in 500 bitcoins which is worth around $23 million in the endowment.

The Indian government so far has been kinda reluctant concerning the issue, as they’re even coming closer to banning cryptocurrencies in the country.

Now in Africa, Nigeria has been the top dogs when it comes to crypto-trading. The country has seen a massive rise in the amount of cryptocurrency transactions performed in recent years.

Just last year Nigeria was reported to have traded over $400 million worth of crypto and they are even the second to US in terms of volume of Bitcoin traded in the last five years.

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Bitcoin trading in Nigeria took to the skies last year during the #Endsars protest that hit the nation. Donations were flying in from all over the world to Nigerians to aid the protest.

It was during this period that the government of Nigeria began blocking and suspending accounts used to to facilitate the crowdfunding. But Nigerians turned to cryptocurrency and that was when it exploded in the country.

But just when cryptocurrency was starting to take it heed in the country, the government decided to stick their nose where they’re not supposed to. They banned crypto-trading in country.

As we all know, Jack Dorsey has been a huge fan of cryptocurrency as we saw him acquire $50 million worth of Bitcoin for Square’s corporate Treasury.

Kenya also has been a huge contributor to the cryptocurrency game as the Central Bank of Kenya recently said they’ll be using Bitcoin as a reserve currency. Also note that after Nigeria, Kenya was the second country to trade most crypto in Africa.

Do you actually think cryptocurrency is the future of money or do you think it just a phase that’ll past? Let us know what you think down in the comments section below.

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Emmanuel
Hello there I'm a tech-inclined geek, and I've always been a huge fan when it comes to anything tech, so I decided to share my knowledge with the online community and also share some of the latest buzzing news in the tech biosphere. i am dedicated to providing you guys with the best news updates. email: [email protected]
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