I know some of you might argue that Bitcoin is not really ‘money’ and that it’s almost like giving value to monopoly money. But as a finance student, I say whatever holds value is worth an investment.
The digital currency which is suddenly on a boom like no-man’s-business, has surely decentralized the authority from the powerful banks across the world.
While some put in their faith and money in this cryptocurrency and enjoyed the astronomical soaring of its value, some are sighing because of the regret of not investing.
For one such person who came in the earlier kind of people, decided to take this euphoric feeling to another level. The person, whose name has not been revealed, has decided to donate a staggering sum of $86 million of his earnings off Bitcoin to worthy charitable causes.
The millionaire has announced that he would donate 5,057 BTC to be precise, naming the fund as ‘Pineapple Express’.
According to his account on Reddit,
"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 :) "
Part of the fund has already been donated to causes like The Charity Project, to internet privacy activists and charities who technologically focus on healthcare facilities. The millionaire also circulated a poster asking if the readers had any suggestions on where else they could donate.
According to Unilad, the millionaire has kept a tight lip on his identity. In fact, even his friends and family have no clue about his Bitcoin wealth.
Feeling proud of investing in the right thing at the right time, the unnamed millionaire said,
“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."
Elaborating on the areas of interest, the poster reveals,
“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."
I mean, Christmas couldn’t have taken off on a better note.
Information source: unilad