The Philanthropic Pine
Have you heard about “Pine” the bitcoin philanthropist? The individual seems to be making waves in the cryptoworld with the recent announcement of an $85 million Pineapple Fund. The aim of the fund is to be able to provide sustenance and support to charities that matter around the world.
The announcement that set members of the cryptoworld abuzz came about from an anonymous poster on the bitcoin subreddit who went by the name of “Pineapple Fund”. The post detailed some interesting information but primarily stated that they are opening up a Bitcoin Philanthropy Fund to donate the majority of their funds to charities.
The poster recounted the days when bitcoin was unheard of by most people and watched it grow from earliest stages into the significant number that it is sitting at today. The poster has chosen to spread the wealth to where it can possibly make the most difference instead of simply being another customer of Lamborghini or other luxury items, or maybe, in addition to being a customer.
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!
The poster further continued to talk about how their life has changed and what they want to do with the proceeds of the funds, in effect using it, to change the lives of many others.
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 having 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.”
Amount of Funds
The poster “PineappleFund” has committed to giving 5,057 bitcoins, which, sitting at the current price ( $17947.70), would make the fund worth $90,760,507.5 million dollars.
Use of funds and transparency
The poster is utilizing the funds to give back to charities and has posted the donations made so far. Funds have been donated to Watsi, a charitable organization that uses technology to improve access to healthcare for various peoples around the world. Then, they’ve given to CharityWater, a tech crowd favorite and non-profit organization that provides clean and safe drinking water to people in developing nations. Then, the redditor has given to other charities like EEF, a charity that works to defend the privacy rights of internet users, fights for neutrality, and does much more. Then a slew of others like Bitgive, OpenBSD, Sens Research Foundation, and others!
Does all of this “giving” sound a bit fishy to you? Well, silence your inner skeptic, check the public ledger and see for yourself.
The most interesting feature of the philanthropy fund is the fact that they are utilizing the transparent nature of the blockchain and publicly documenting the funds sent!
Know of a charity that might benefit? Reach out and let them know!
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“If you know a registered nonprofit charity, please encourage them to apply on the fund’s website! While I prefer supporting registered charities, I am open to supporting charitable causes as well. Check out the website :)”