Twitter Founder Jack Dorsey Backs Bitcoin Nonprofit Brink with $5 Million Investment – What Does it Do?
Circle’s founder Jack Dorsey has decided to inject some $5 million into Bitcoin non-profit Brink, providing the organization with funds to finance its support for independent BTC developers.
In a tweet, Brink thanked the entrepreneur for the funds which, as it explained will be allocated to the non-profit in five installments of $1 million each.
“Honored to receive a very generous $5,000,000 pledge to our developer funding efforts from @jack and #startsmall. Brink will receive $1,000,000 per year for the next 5 years. Thank you for supporting #bitcoin developers,” according to the tweet.
The funds will be provided by the businessman’s Smart Small funding initiative which strives to support independent Bitcoin developers via grants.
Brink says that all donations made to the non-profit are 501(c)(3) tax-deductible and 100% of donations are used to provide the necessary support to independent Bitcoin developers involved in building, securing, testing, and reviewing the Bitcoin Core software which underpins the Bitcoin network.
“Brink exists to strengthen the Bitcoin protocol and network through fundamental research and development, and to support the Bitcoin developer community through funding, education, and mentoring. We support and mentor new contributors to open source Bitcoin development through our fellowship program, and support the work of established Bitcoin protocol engineers through our grants program,” according to the non-profit.
With regards to its fellowship initiative, Brink describes it as an intensive one-year program which allows to onboard exceptional software engineers into Bitcoin protocol development.
“As a Brink fellow, you’ll spend a year working alongside our engineering team and the other Brink
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