Pineapple Fund Receives $55 Million in Crypto Donations
An anonymous donor has issued a final donation to the Pineapple Fund summed at $55 Million.
The previous year, in mid-December, during the all-time-high of cryptocurrency markets, the donor claimed that he has so much Bitcoin that he wants to donate 5,057 BTC to charitable organizations. In total, the amount accounted at $86 million. The rise of BTC in the recent years has offered him more money than he could spend. The anonymous donor noted that money doesn’t matter when you have a lot of them.
Pineapple Fund is a website initiated for supporting the nonprofit organizations. Any of the organizations can apply for donations.
Pineapple Fund’s final donation
The anonymous sponsor claimed on a Reddit post that he will be issuing his final donation of $55 million. The organizations that received donations include The Water Project, Multidisciplinary Association of psychedelic studies (MAPS), and the Bitgive Foundation. The amount of donations per organization goes up to $5 million. The Open Medicine Foundation (OMF) has received the final donation.
MAPS research the medical, cultural and legal contexts for people who benefit from uses of marijuana and psychedelics.
OMF studies complex chronic diseases aiming to provide effective treatments.
Both organizations were among the few to receive a maximum of $5 Million in donations.
Many answers from the community have praised the anonymous donor for incredible generosity. Some users noted that from many people that have got there with cryptocurrencies, only a few have positively impacted so many lives.
Pine noted that it might be back in a couple of years.
Meanwhile, there are crypto projects that concentrate on charitable donations. These include Crypto Charity Fund, Clean Water Coin and Eat BCH.