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Twitter C.E.O. Jack Dorsey said he will convert proceeds from the digital-auction of the first-ever-tweet on the platform to bitcoin. This was decided on Friday and it is done for charity purpose.
“just setting up my twttr” – the first ever tweet went live for sale. 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. Dorsey, a known bitcoin enthusiast, said the auction will end on March 21.
Payments company Square Inc, also led by Dorsey, invested $170 million more in bitcoin last month. This added to the mainstream acceptance of the digital currency that has been winning support from several big investors.
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 17:05 GMT on Tuesday.
The proceeds are being donated to GiveDirectly, a fundraising-project to give cash directly to families experiencing extreme poverty in Africa.