CNBC Africa

Jack Dorsey & Jay Z invest $23.6mn to fund Bitcoin development in Africa and India


American rapper Jay Z and Twitter CEO Jack Dorsey say they are establishing a Bitcoin Development Fund with 500 Bitcoin worth about $23 million to be jointly invested. In a series of tweets, Dorsey stated that they are taking applications for a blind irrevocable trust focused on Africa and India. This comes as Mastercard says it will allow select cryptocurrency transactions on its network later this year. Jake Bright, Writer and Advisor on African Tech joins CNBC Africa for more.

Tue Feb 16 2021 | 07:47:19 GMT+0000 (Coordinated Universal Time)

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