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If You Invested $1000 In Bitcoin When Jack Dorsey And Rapper Jay-Z Establish A Bitcoin Non-Profit, Here's How Much You'd Have Today

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If You Invested 00 In Bitcoin When Jack Dorsey And Rapper Jay-Z Establish A Bitcoin Non-Profit, Here's How Much You'd Have Today

Jack Dorsey, who co-founded social media giant Twitter, now known as X, is among the handful of tech honchos to publicly champion Bitcoin BTC/USD and its underlying technology.

However, apart from words, his actions also reflect his commitment to leading the cryptocurrency industry. 

What happened: Dorsey, who’s currently at the helm of Block, Inc., once famously said that Bitcoin had the potential to become the internet’s native currency, owing to its fundamentals. 

On Feb. 12, 2021, he, along with rap star Jay-Z, established a Bitcoin non-profit to fund the development of the apex cryptocurrency, initially targeted at Africa and India. The duo invested 500 BTC to support the fund.

During this time, one BTC was valued at $47,504, meaning that an investment of $1,000 would have fetched 0.021 units of the coin.

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At the time of writing, the value of one BTC has swelled to $63,948.02, boosting the portfolio value to $1,346, which is a significant return of nearly 35%.

See Also: Pay Taxes With Bitcoin? Ohio Senator Proposes Bill For Crypto Tax Payments, But There’s A Catch

Why It Matters: In line with the initial objective, the non-profit trust, called Btrust, continues to provide financial backing and training to Bitcoin developers in the Global South.

Earlier this month, it acquired Qala, a platform that shared its vision of advancing Bitcoin development in Africa, reported Forbes.

Bitcoin BTC/USD exceeded expectations in September, surging 7.29% in a month that has averaged negative returns of 3.77% in the cryptocurrency’s brief history.

The market’s expectations were high from the fourth quarter, which has historically witnessed strong uptrends.  

Price Action: At the time of writing, Bitcoin was exchanging hands at $63,948.02, down 1.10% in the last 24 hours, according to data from Benzinga Pro. 

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Photo courtesy: Shutterstock

Market News and Data brought to you by Benzinga APIs

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Crypto

SEC Sets Bullish Tone on On-Chain Markets as Blockchain Settlement Becomes Strategic Priority

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SEC Sets Bullish Tone on On-Chain Markets as Blockchain Settlement Becomes Strategic Priority
The SEC is signaling a decisive push to move U.S. financial markets onto blockchain infrastructure, framing on-chain settlement as a priority upgrade that could reshape post-trade systems and regulatory strategy under Chair Paul Atkins.
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Westlake police say cryptocurrency scam cost woman over $5,000

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Westlake police say cryptocurrency scam cost woman over ,000

WESTLAKE, Ohio – A convenience store clerk at 1:30 p.m. on Nov. 26 alerted a police dispatcher that a female customer was feeding large amounts of cash into a cryptocurrency ATM at the store on Center Ridge Road at Dover Center Road.

The clerk said the customer would not believe the clerk’s warning that she was being scammed.

Officers arrived to find the 71-year-old still “anxiously depositing” cash into the machine. Officers told her to stop, but she did not believe the uniformed men. The officers talked to her for several minutes before she finally believed that there was an issue. She was still on the phone with the scammer at the time.

The incident started that morning when the victim received a pop-up message on her home computer instructing her to call a provided support phone number due to a supposed issue with the computer’s operating system. She called the number and was connected to a man who claimed he was a representative from Apple, according to a police department press release.

The man talked her into allowing him remote access to her computer while he asked for her bank information. The scammer talked the victim into believing that there was a problem with her accounts, and she was at risk of losing $18,000 in connection with pornographic websites out of China or Mexico.

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She was connected to a fake fraud department for her bank, and another scammer persuaded her to go to a bank and withdraw as much cash as they would allow. The scammer even told her to give the teller a story about needing cash to buy a car. The perpetrator kept the woman on the phone as she took out cash and traveled to the crypto ATM. The victim had deposited approximately $5,500 before officers persuaded her to stop. The Westlake Detective Bureau is attempting to recover the lost funds.

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Read more from the West Shore Sun.

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Youtube Expands Creator Monetization Using Paypal USD Stablecoin

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Youtube Expands Creator Monetization Using Paypal USD Stablecoin
Youtube has reportedly begun letting U.S. creators receive payouts in Paypal’s dollar-pegged stablecoin, Paypal USD (PYUSD), signaling a shift toward regulated digital currencies as mainstream payment tools and deepening stablecoins’ role in creator monetization.
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