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Black Bitcoin Millionaires Created

Square’s CEO partners with Clubhouse’s largest bitcoin-focused group to increase the awareness and use of crypto in wealth creation and create more black bitcoin millionaires.

It is pretty known that a lot of crypto people have been moving into Clubhouse, the hot, audio-based social media platform. And its largest group is the Black Bitcoin Millionaires, which has 17,000 members.

Recently Square Inc., through its CashApp, is now partnering with the group’s organizer, Lamar Wilson to produce more Black millionaires through Bitcoin via “Operation: Satoshi Millionaire.” The month-long campaign started last February 4 and focuses on getting Bitcoin into the hands of more Black families, and then educating people about Bitcoin.

“CashApp is very easy to use and it fits one of our principles of owning your coins, because unlike PayPal and Robinhood, you can send your bitcoin to your own wallet,” Wilson said. He elaborated that the app had been downloaded over 30 million times and makes buying bitcoin as easy as selecting “enable bitcoin” in the app.

“Cash App is a tool that a lot of black Americans use,” added Isaiah Jackson, who hosts the Black Bitcoin Millionaires, on Clubhouse.  “We wanted ease of use, and to partner with a company that puts their money where their mouth is.”

Jackson, the writer of Bitcoin and Black America, had been a prominent voice in the Bitcoin community, connecting the gap between bitcoin and people of color. Truthfully, Square’s CEO, Jack Dorsey, is a fan of Jackson’s book and promoted it about a year ago on to his 5.2 million followers.

It was Jackson who first reached out to Dorsey to scale his interest in his Square partnering with the Black Bitcoin Millionaires group.

“I talked to Jack personally.  Then [Wilson and I] talked to Brian Grassadonia [the co-creator of CashApp],” Jackson said. “Jack and I have talked a few times before so he loved the idea.”

Building a tight community with crypto

Wilson is not new to building an online community around cryptocurrency. He founded the Koinda – formerly Wacoinda – Facebook group last January 2018. The group has over 25,000 members and launched its own cryptocurrency, the “CJ” named after Madam C.J. Walker, a black entrepreneur who was the first female, self-made millionaire in America.

Wilson hoped that the latest project will help advance the goal of exposing the community to crypto assets. “The campaign to help narrow the generational wealth gap is just one step in the right direction, but expect more from Black Bitcoin Millionaires soon,” he mentioned in a statement. “Both Zay and I believe this partnership with Cash App will set the tone for other corporate sponsors that want to provide more financial access to those often forgotten.”

San Francisco-based Clubhouse had become the go-to place for conversation on Social Media. It was launched last March by Paul Davidson and Rohan Seth, the audio-only platform has hosted discussions involving Elon Musk, Kanye West, and Mark Zuckerberg.

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