A Bitcoin enthusiast institutional investor working to further the Bitcoin ecosystem in his own way

in Proof of Brain3 months ago (edited)

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A well known loyal BTC whale institutional investor associated with twitter

Let’s look into this celebrity supporter of Bitcoin. Can you guess who he is when you are given the clue that he is someone associated with Twitter?.

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Image by Josh Borup from Pixabay

Ofcourse, you guessed it ,he is Jack Dorsey, who founded Twitter and then the payments company Square Inc.

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Image Source

Way back in 2018 itself , Square led the way in the adoption of Bitcoin when Square’s cash app added support for Bitcoin, enabling merchants and users to send and receive Bitcoin payments.

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Taken from Square cash apps website
Cool illustrative easy explanation of Bitcoin in Square Bitcoin Cash app’s website - check it out

Square was one of the early supporters of BTC. All this paid off well too, with Square in the coming years making good profits out of its Bitcoin payment transaction business.

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Taken from Square cash apps website
Cool illustrative easy explanation of Bitcoin in Square Bitcoin Cash app’s website - check it out

Square’s big investments in Bitcoin started before BTC price went above 20,000

Now, Jack Dorsey is continuing his association with Bitcoin, with Square being a major institutional investor that got into Bitcoin, allocating an amount of 50$ million which constituted 1% of its balance sheet into this digital gold asset class. This investment that happened on October 2020 last year has obviously proved very profitable, as we all remember that on that time period Bitcoin’s price shot up from 10,400$ to 20,000$
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From trading view

Following this in Feb 2021, Square again made an additional investment of 170$ million into Bitcoin.

Square is active in funding initiatives that improve the Bitcoin Network

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Taken from Square cash apps website
Cool illustrative easy explanation of Bitcoin in Square Bitcoin Cash app’s website - check it out

Under Jack Dorsey, Square Crypto was formed in 2019, that funds initiatives that furthers the development of the Bitcoin ecosystem.

A renewable, solar-powered Bitcoin mining facility is on the making - All Open Source!!

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Taken from Square cash apps website
Cool illustrative easy explanation of Bitcoin in Square Bitcoin Cash app’s website - check it out

Recently, Square and Blockstream that’s under Adam Back have collaborated to create an open source, solar powered Bitcoin mining facility in the US. The open source nature of this project makes it transparent, so all the insights gained out of building a renewable energy;solar powered Bitcoin mining facility will be shared with the public.

Blockstream will provide a dashboard which will put on display real-time metrics of the working project with details of the Bitcoin mined, the power output etc.

This initiative is to show the world that Bitcoin Mining can be powered by renewable, clean energy, and give motivation for other Bitcoin mining entities to transition to clean energy. When that happens Bitcoin can motivate other industries and entities to transition to using clean energy for a sustainable future.

Wow...this is a commendable project to be involved in, and Jack Dorsey through Square is funding 5$ million for the development of the facility, with Blockstream working to build the infrastructure for the solar powered Bitcoin mining facility.

Square’s plans of creating a non-custodial Bitcoin mobile hardware wallet

Besides this, Square is looking to build an open source, non-custodial Bitcoin mobile based hardware wallet. As of now, Square holds the BTCs of its cash app users and with this bitcoin hardware wallet that can be integrated with Square’s cash app, it’s customers can hold and have ownership of their cryptos and private keys.

Square’s non-custodial bitcoin hardware wallet too would be open source, where everything will be discussed with the community and a Github page may be set up for it in the future.

Appreciations to Jack Dorsey for adding value to the Bitcoin Ecosystem sensibly

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Taken from Square cash apps website
Cool illustrative easy explanation of Bitcoin in Square Bitcoin Cash app’s website - check it out

What we should appreciate in Jack Dorsey is that he is doing things that further the development of the Bitcoin ecosystem in a positive way. He is not just in Bitcoin for the money , he seems to believe in this asset class and is passionately involved in the Bitcoin ecosystem beyond merely being an investor and the owner of a Bitcoin payments app.

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This cool infographic from Square's Bitcoin cash app explains what Bitcoin enthusiasts believe Bitcoin to be - Digital Gold!!

Jack seems to have sound values of encouraging Bitcoin holders to custody their own Bitcoins because otherwise BTCs that you HODL are not under your ownership and control.

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This cool infographic from Square's Bitcoin cash app explains why Bitcoin enthusiasts love BTC because it cannot be manipulated by authorities!!

It’s good to have such business people as a famous personality in the crypto sphere for balancing the damaging impacts back stabbing businessmen like Elon Musk to Bitcoin’s price with his tweets!!

Jack even attended the historic Bitcoin Conference this year and revealed that Bitcoin is so important to him that he would leave Square and Twitter if Bitcoin needed him. Awww… I know that feeling of being a Bitcoin enthusiast, we get so passionate about it, it’s so much like being in love and all that. Sweet and cute.

Well, why not view it this way if Elon Musk conveyed through his tweet that he broke up with Bitcoin!! If that is the case Bitcoin has found a better loyal Bitcoin enthusiast than him by miles for sure!!

That's it, guys, thanks for reading my post and have a awesome week ahead!!

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