Jack Dorsey donates $1 million to crypto assume tank Coin Heart

Jack Dorsey, CEO of Twitter Inc. and Square Inc., speaks during an Empowering Entrepreneurs event at Ryerson University in Toronto, Ontario, Canada on Tuesday, April 2, 2019.

Cole Burston | Bloomberg | Getty Images

Jack Dorsey, CEO of Twitter, has made a $ 1 million donation to the nonprofit Cryptocurrency Think Tank Coin Center, the organization said on Wednesday.

The cash donation will aid research and lobbying at the Coin Center in Washington, DC. It comes after a similar move by digital asset manager Grayscale Investments, who donated $ 1 million to the group last month.

“I’m thrilled to announce that Coin Center has received donations to fully utilize @Grayscale’s incredible $ 1 million match,” tweeted Jerry Brito, Executive Director of Coin Center, on Wednesday . “We were amazed at the community support.”

“Coin Center received an incredibly generous $ 1 million gift from @jack – we’re speechless,” added Brito. “We were almost at our goal for the matching campaign when he exaggerated us. Your confidence in our work is incredibly humble.”

Based in Washington, DC, the Coin Center is a nonprofit research and advocacy group that addresses the public policy issues faced by cryptocurrencies like Bitcoin. His supporters include the venture capital firm Andreessen Horowitz from Silicon Valley and the cryptocurrency exchange Coinbase.

Dorsey is no stranger to advertising Bitcoin, once claiming it will become the “single currency” of the Internet. Square, Dorsey’s fintech firm where he also serves as CEO, invested $ 50 million in Bitcoin last year. Square’s Cash app allows users to buy and sell Bitcoin.

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