With much of the world enamored with the recent rise in Bitcoin’s price, it can be easy to not hear about the more selfless and humanitarian uses of the cryptocurrency.
An anonymous BTC holder, whose address is one of the top 250 addresses in terms of BTC held, has donated 5,057 BTC to charitable causes in the Pineapple Fund. The tagline on the website:
Because once you have enough money, money doesn’t matter.
In a recent interview with Hackernoon, “Pine” discussed his/her entry into Bitcoin which lead to mining and working for cryptocurrency. During the conversation, the anonymous philanthropist detailed the qualities he/she looks for in determining the amount if any that is donated to a chosen cause: impact, innovation, and the size of the charity.
So far Pine has donated to the following charities: Mona, Charity:Water, Sens Research Foundation, Open BSD, Multidisciplinary Assocation for Psychedelic Studies (MAPS), Electronic Frontier Foundation, BitGive EFF, The Water Project, and Watsi.
Pine prefers to transfer Bitcoin directly to the charity rather than exchange for USD first as this maximizes the value donated, allows the charity to exchange to their local currency,, and keeps Pine anonymous.
Pine is exploring the idea of a “PF Ventures” in which people can start their own charitable organizations and pursuits and is seeking to donate most of the funds within three months.
Charities wishing to apply for the Pineapple Fund can fill out the form here.
Image via AdobeStock