This week an early bitcoin adopter announced on the forum Reddit that he had so much bitcoin he plans to donate 5,057 BTC (US$86Mn) to charitable causes. So far the anonymous donor created a website called the ‘Pineapple Fund,’ and has already donated $5M in bitcoins to some well known nonprofit organizations.
$86 Million to Charity: This Early Adopter Says ‘Money Doesn’t Matter’
Cryptocurrencies are worth a lot of money these days, and this holiday season one bitcoin whale is donating quite a bit of BTC to charitable organizations. The anonymous donor says he saw the promise of bitcoin long before it broke the single-digit price range. The donor explains the “shattering returns” of bitcoin over the years has given him more money than he can spend. The early adopter has now started a website for the funds he is giving away called the Pineapple Fund, where registered nonprofit organizations can apply for donations. The owner of the website states;
The [Pineapple Fund] is Donating $86 million of bitcoins to charity — Because once you have enough money — Money doesn’t matter.
Pineapple Fund Donates Five Million to Six Charitable Causes So Far
For people who don’t believe the Pineapple Fund is real, the owner has provided an address and digital proof of ownership utilizing the bitcoin blockchain. The Pineapple Fund has already given money to six charities including Watsi ($1Mn), The Water Project ($1Mn), the Electronic Frontier Foundation ($1Mn), the Bitgive Foundation ($500K), MAPS psychedelic studies ($1Mn), and the Open BSD Foundation ($500K).
The new fund says it supports a variety of charitable causes worldwide and it is looking to donate more money. However, the fund is not going to give bitcoins to just any random Joe who provides an address.
“The Pineapple Fund supports a diverse range of charitable causes worldwide — If you’re doing anything worthwhile, we invite you to apply,” explains the Pineapple Fund.
Your organization should be a registered nonprofit organization in your country. In exceptional circumstances, we may make exceptions — You’re welcome to apply. We will transfer the donation ‘in-kind’ via bitcoin.
Bitcoin Giving Is Growing Popular As the Price Increases In Value
The news of the Pineapple fund giving away 5,057 BTC follows the incredible gift of over $700,000 in bitcoins to the well-known evangelist Andreas Antonopoulos. Further, just a few weeks ago bitcoiners paid off the land at the homeless outreach center, Satoshi Forest. Alongside this, during the hurricane that wreaked havoc on Texas, someone gave 10 BTC to help the 30,000 residents forced out of their homes. It’s safe to say as the price of bitcoin reaches new all-time highs more people are giving funds to charitable causes.
What do you think about the Pineapple fund giving away $86Mn worth of BTC to charitable causes? Let us know in the comments below.
Images via Shutterstock and the Pineapple Fund.
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Source : Bitcoin