Dorsey to convert proceeds from auction of the first ever tweet to bitcoin

Platform News: Twitter and Square CEO Jack Dorsey

Twitter’s Chief Executive Jack Dorsey has said he will convert proceeds from the digital auction of the first ever tweet on the platform to bitcoin for charity.

The first ever tweet, “just setting up my twttr” went live for sale after Dorsey listed it as a unique digital signature on a website for selling tweets as non-fungible tokens (NFTs).

NFTs are digital files that serve as digital signatures to certify who owns photos, videos and other online media. The controversial CEO, a known bitcoin enthusiast, said the auction will end on March 21.

Payments company Square, which is also led by Mr Dorsey, invested $170 million more in bitcoin last month, adding to the mainstream acceptance of the digital currency that has been winning support from several big investors.

Jack Dorsey’s 15-year old tweet could attract bidders to pay a high price for the digital memorabilia. The highest bid for the tweet stood at $2.5 million as of Tuesday evening.

Related Article:
Bitcoin surges to all-time record as 2020 rally powers on

The proceeds are being donated to GiveDirectly, a fundraising project to give cash directly to families experiencing extreme poverty in Africa.

The team at Platform Executive hope you have enjoyed this news article. Translation from English to other languages via Google Cloud Translation. Initial reporting via our official content partners at Thomson Reuters. Reporting by Munsif Vengattil in Bengaluru. Editing by Shounak Dasgupta.

Stay on top of the latest developments across the platform economy and gain access to our problem-solving tools, proprietary databases and content sets by becoming a member of our community. For a limited time, premium subscription plans start from just $7 per month.

Share This Post