There are still detractors of Bitcoin who say it isn’t real money, who say it may as well be monopoly money, and they’d be wrong.
The cryptocurrency is the currency of the internet, a decentralising force which removes any established authority from the powerful banks.
Sure, people have made unfathomable amounts of money thanks to the astronomical rise in value of Bitcoin in recent years, but that doesn’t mean the purpose of Bitcoin has changed.
In fact, one person has made so much money as a result of their lucky Bitcoin investments that they are donating $86 million of their fortune to worthy charitable causes.
The Bitcoin millionaire has set up a fund known as the Pineapple Fund, and will donate 5,057 BTC precisely to charitable causes.
Writing on Reddit yesterday, they announced:
I remember starting at bitcoin a few years ago. When bitcoin broke single digits for the first time, I thought that was a triumphant moment for bitcoin. I watched and admired the price jump to $15.. $20.. $30.. wow!
Today, I see $17,539 per BTC. I still don’t believe reality sometimes. Bitcoin has changed my life, and I have far more money than I can ever spend.
My aims, goals, and motivations in life have nothing to do with XX million or being the mega rich. So I’m doing something else: donating the majority of my bitcoins to charitable causes.
I’m calling it The Pineapple Fund.
Yes, donating ~$86 million worth of bitcoins to charities :)
So far, the fund has donated millions to various causes, including The Water Project, internet privacy activists and technological charities focusing on universal healthcare.
The poster has also called for any other suggestions at who would be worthy of a donation.
The donor told UNILAD they wish to remain anonymous, as even their friends and family do not know they have as much Bitcoin wealth as they do.
They are immensely proud of Bitcoin, and how far it has come, telling us:
I discovered bitcoin among the early years, back when the community was a group of like minded people wanting to build the first decentralized currency, powered by code and not human trust.
I undertook a variety of activities, from mining, trading, and even worked for bitcoins. I’m proud of how much bitcoin has came from its humble origins of a whitepaper and a SourceForge repository.
The Pineapple Fund (5,057 BTC) is a majority of my cryptocurrency holdings, but I still have a substantial portion that I am keeping.
I am donating this much because I have enough already; my quality of life will not be impacted in the slightest. Maybe it’ll also buy me karma.
The fund is still open for suggestions for donations, and they have noted these areas of particular interest:
We focus on the following cause areas:
– Medical research
– Mental health
– Wildlife conservation and environment
– Fighting domestic violence and sexual abuse
– Sustaining basic necessities
– Technology-related causes (advocacy, and open source projects).
This focus is chosen out of personal interest. I’m not saying they are the most urgent or the most effective areas. But I think any donation to those causes will do some good in the world.
What an incredible way to make use of Bitcoin. The Pineapple Fund should be proud.