Pineapple Fund

The Pineapple Fund was a philanthropic project by an anonymous individual which gave away 5,057 bitcoins to 60 charities. The amount was valued at $86 million in December 2017.[3][4][5][6] Some of the themes supported were medical research, environmental conservation, human rights and psychedelic therapy.

Pineapple Fund
EstablishedDecember 2017
FounderAnonymous / "Pine"
Typecharitable fund
Budget
5,057 bitcoins
Disbursements$55 million[1][2]
Websitehttps://pineapplefund.org

History

The Pineapple Fund was announced with a post on Reddit on December 14, 2017. The individual used the pseudonym "Pine", and explained that "My aims, goals, and motivations in life have nothing to do with ... being the mega rich. So I'm doing something else: donating the majority of my bitcoins to charitable causes".[7] The individual behind the fund has remained pseudonymous.

An application form was made available on the website, open to all charities around the world. Speaking to the magazine Philanthropy, the founder said that more than 10,000 applications were received.[8]

After five months, a total of 5,104 bitcoins had been donated and liquidated for a value of $55 million after exchange rate volatility.[9]

Donations

The fund's first donation was $1 million to Watsi, a charity for crowdfunding healthcare.

The fund made its three largest donations of $5 million each to GiveDirectly,[10] The Open Medicine Foundation.[11] and to MAPS.[12]

The fund has also donated $1 million or more organizations such as BitGive[13] and the Sustainable Ocean Alliance.[14]

See also

References
  1. Roose, Kevin (27 December 2017). "Some Things About Tech Were Good in 2017. No, Really" – via NYTimes.com.
  2. "Pineapple Fund". pineapplefund.org. Archived from the original on 2020-01-08. Retrieved 2018-01-10.
  3. "Bitcoin philanthropist sets up $85M investment fund to support charities". The Next Web. 14 December 2017.
  4. Guo, Eileen (17 December 2017). "Can the $86 Million "Pineapple Fund" Save the Soul of Bitcoin?". Inverse.
  5. Coren, Michael. "A bitcoin millionaire's fortune will fund psychedelic research, a cure for aging, and clean water". Quartz.
  6. Murphy, David (17 December 2017). "'Pineapple Fund' Giving Away $86 Million in Bitcoins to Charity". PC Magazine.
  7. Schroeder, Stan. "Bitcoin tycoon promises to give away $86 million worth of bitcoins to charity". Mashable. Retrieved 2018-01-10.
  8. Lindsay, Drew. "'It Just Felt Like a Miracle': Small Groups Win Big in Bitcoin Donor's $56 Million Giving Spree". Philanthropy. Retrieved 21 September 2018.
  9. Tahir, Habiba. "$55 Million: Pineapple Fund Bids Farewell after Making Final Anonymous Donation". Yahoo Finance. CCN. Retrieved 21 September 2018.
  10. Weller, Chris. "The world's largest basic income experiment just received a $5 million donation in bitcoin". Business Insider.
  11. "Pineapple Fund increases donation to $5 million". 2 February 2018.
  12. "PRESS RELEASE: Pineapple Fund Offers $4 Million Matching Grant to MAPS". MAPS. Retrieved 2018-01-10.
  13. Busby, Mattha (2017-12-24). "Pineapple Fund: why is an anonymous bitcoin millionaire giving away $86m?". The Guardian. ISSN 0261-3077. Retrieved 2018-01-10.
  14. Coldewey, Devin (14 February 2018). "Pineapple Fund drops $1M on the Sustainable Ocean Alliance and its new accelerator". techcrunch.com. United States of America: TechCrunch. Retrieved 14 February 2018.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.