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Using a Bitcoin wallet to receive relief funds! Twitter founder's Cash App supports government subsidies, receive immediately for immediate use

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Using a Bitcoin wallet to receive relief funds! Twitter founder

In late March, the Democratic Party in the United States proposed issuing "digital dollars" as stimulus payments to the general public, but the proposal did not pass. Following the passage of the relief bill, Jack Dorsey, CEO of Square, who had just donated $1 billion in stock for COVID-19 relief, took on the concept of making it easier for people to access stimulus payments and announced that their cryptocurrency payment wallet, Cash App, would support receiving relief funds directly.

Jack Dorsey Just Donated 28% of His Wealth to Fight COVID-19

Jack Dorsey, who runs both Twitter and Square, has donated nearly a billion dollars' worth of Square stock. The funds will be used for global COVID-19 relief, girls' education, and unconditional basic income.

Cash App, a subsidiary of Square that focuses on cryptocurrency payments, is highly valued by Jack Dorsey. This donation was announced simply through a Google document to disclose the use of funds, without utilizing blockchain for record-keeping.

Changpeng Zhao (CZ), the founder of Binance, also responded to this move: "The measure of a billionaire is not how much they own, but how much they give."

This donation also presents another opportunity for Square.

Cash App Receives Grants for Investment Software, Instant Use

Cash App is only available for users in the United States. On the website, you can see slogans like "My first stock" and a youthful and lively interface design, where you can also invest in Bitcoin.

The investment habits of the younger generation in the United States (those born in the 1990s and 2000s) have already changed drastically, making it a battleground to capture the next golden generation of the investment market. In recent years, in Taiwan, we have seen banks actively developing app functions, product "small capitalization," and brand image rejuvenation. Even international luxury brands are adjusting their brand designs in response to the consumption habits of the younger generation, and there are many more examples of similar transformations.

This time, due to the weakening U.S. economy and poor living conditions, the distribution of almost universal stimulus checks may be an opportunity for Cash App and also for increased recognition of cryptocurrency investments.

The Internal Revenue Service (IRS) is distributing stimulus checks through various websites using serial numbers. In Cash App's announcement, they inform young people about what is happening in the United States, how to receive stimulus checks, and other related information through a Q&A format.

This is undoubtedly a good opportunity for Cash App to gain more users, and Jack Dorsey is promoting it on Twitter: "Quick and simple instructions on how to get the $1200 stimulus check from the U.S. government (yes, you can deposit it directly into Cash App for immediate use, no need for a bank account)."