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Jack Dorsey to convert the amount of his first tweet’s sale to Bitcoin for charity

As NFTs are becoming more popular, and one of the most iconic sales using it became Twitter CEO Jack Dorsey’s first tweet. The tweet read, “just setting up my twttr”. As of now, the highest bid is $2.5 million, and the last date for the bid is 21st March. Jack said that he is going to convert the amount he received from the tweet’s sale to Bitcoin and use it for charity. This is a big move by the individual as we could see more such charities happen in the future using Bitcoin.

More about the tweet’s sale as NFT

just setting up my twttr | Bitcoin as charity

The first tweet of Jack Dorsey was posted on March 22, 2006, and marked the beginning of a new age of social media. Whoever wins the bid and purchases the tweet will have his/her digital signature on the same. After this, the person will become the official owner of the most iconic and oldest tweet ever made. The sale of the tweet also shows Jack’s interest in crypto and blockchain technology. He is also the founder and CEO of the company Square that has also invested millions of dollars in Bitcoin.

The final plan after the auction ends will be to convert the entire amount to Bitcoin. It will then be donated to a charity called GiveDirectly that provides aid to African families directly facing extreme poverty. The sale of the tweet is also bound to make NFTs more common and, for sure, more trustworthy.

Bitcoin’s price increase

After falling from $58,000 to almost $43,000 in nearly a week, the price of Bitcoin has steadily increased since then. At present, it is trading at around $55,000 and has almost closed its gap from the all-time-high it made in February. More companies are investing in the same, and this has also led to a price increase in Bitcoin. Just two days back, a Chinese app Meitu announced an investment of $40 million in crypto, out of which $21.9 was in Bitcoin. And at the same time, a Norwegian investment company Aker ASA invested a hefty $60 million in Bitcoin too. Both of these announcements significantly increased the price of the currency.

What are your thoughts on the sale of the first tweet of Jack Dorsey? And how does the idea of using Bitcoin for charity sound to you? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.

Also Read: What are NFTs? Should you buy or avoid them?



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