Twitter boss and Jay-Z start creating a Bitcoin fund

Jack Dorsey, president of Twitter and hip-hop tycoon Jay-Z, has begun creating a fund for the cryptocurrency together.

And Dorsey announced on Twitter that the two men would be raising 500 Bitcoins worth around $ 24 million - in seed capital.

The fund aims to finance Bitcoin projects, with an initial focus on development teams in Africa and India.

Dorsey and Jay-Z are looking for other partners and intend to create the project as an "absolute, irrevocable investment fund" that neither can effectively manage.

The oldest and most popular cryptocurrency achieved huge success over the past week. On Monday, it was revealed that Elon Musk's Tesla electric car company has bought about $ 1.5 billion in Bitcoin and will start accepting the cryptocurrency as payments.

After that, Mastercard said it would accept cryptocurrencies in its payment network.


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