Twitter CEO Jack Dorsey to convert proceeds from auction of first tweet to Bitcoin for charity

By: |
March 10, 2021 2:27 PM

Dorsey is known to be a Bitcoin enthusiast, and said that the proceeds converted to Bitcoin would be donated as charity.

The tweet posted by Dorsey to mark the beginning of Twitter could raise a high amount, attracting bidders to shell out a hefty amount for the memorabilia. (File image)

Jack Dorsey: Twitter CEO Jack Dorsey has said that he would be converting the proceeds from the digital auction of the first ever tweet posted on the microblogging site to Bitcoin for charity. The first ever tweet on the website was Dorsey’s post “just setting up my twttr”, which he tweeted nearly 15 years ago on March 22, 2006. It went on sale after the CEO listed it as a unique digital signature on a site that sells tweets as non-fungible tokens (NFTs). The auction for the tweet would end on March 21, the CEO said.

Digital files NFTs work as digital signatures and they certify the owners of photos, videos as well other online media. Dorsey is known to be a Bitcoin enthusiast, and said that the proceeds converted to Bitcoin would be donated as charity to GiveDirectly, which is a fundraising project. GiveDirectly aims to give cash directly to African families facing extreme poverty.

Dorsey is also the Founder and CEO of a financial payments company called Square, which last month invested about Rs 1,240 crore in Bitcoin. The investment gave a boost to the mainstream acceptance of the digital currency, which has also witnessed the support of several other big investors.

The tweet posted by Dorsey to mark the beginning of Twitter could raise a high amount, attracting bidders to shell out a hefty amount for the memorabilia. As of Wednesday afternoon 1:52 pm IST, the highest bid for the digital signature stood at $2.5 million, translating to an amount of roughly Rs 18 crores.

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