The rise of Bitcoin value has created a new kind of crypto-millionaires. Among them there’s an anonymous one who decided to start The Pineapple Fund – a fund that supports charities around the world.
The Pineapple Fund, has already donated over $10 million to charitable causes. Among the lucky charities that will receive the support, one may find Pencils of Promise, that works towards quality education and accessibility, and The Water Project that brings clean and safe water to communities that most need it.
As the website reads: “What do you do when you have more money than you can ever possibly spend? Donating most of it to charity is what I’m doing.”
The philanthropist allegedly invested in Bitcoin in the early days of the crypto-currency, and with the value of Bitcoin soaring he/she has been transformed into a millionaire. As such, he/she has now decided to give back to organisations in need.
The anonymous crypto-philanthropist states that there are approximately $86 million in Bitcoin to be donated to organisations. There is a vetting process in place as well, in order to keep bad actors out of the funding rounds. Moreover, the fund does not provide support for awareness charities, as it’s not in their scope.
Although registration has now been closed, the Pineapple Fund has been very busy checking applications and answering questions on the identity of the organiser. If you’d like to learn more about the Pineapple Fund, then you can follow the conversation on Reddit. There are no other social media profiles about the fund, or the person behind it.
More from Tech
Facebook has announced it is working on an updated version of its Portal smart displays, which should be available this …
Facebook launched the new Oculus Quest only two weeks ago, but the standalone VR headset already generated over $5 million …