An anonymous Bitcoin holder known as Pine donated 5,104 BTC through the Pineapple Fund between 2017 and 2018, supporting 60 charities.
The Bitcoin was converted into around $55M and funded healthcare, poverty relief, digital rights and scientific research ❤️
At Bitcoin's price of roughly $83,300, the same 5,104 BTC would be worth around $425M today 📈
Three of the largest $5M grants went to GiveDirectly, the Open Medicine Foundation and MAPS, alongside many other organizations.
The donation happened after Bitcoin's 2017 bull market peak, while its price fell significantly during the fund's distribution period 📉
The current value difference does not mean charities lost money, as holding BTC would have involved years of significant price volatility ⚖️
Pine's identity, gender and country remain unknown, with the fund effectively ending in May 2018 after its final donation to the Internet Archive 🔎
Today's Pill - Bitcoin's history shows how early crypto wealth has also been used to fund real-world causes, while long-term price appreciation can dramatically change the value of past holdings 🔄
The Bitcoin was converted into around $55M and funded healthcare, poverty relief, digital rights and scientific research ❤️
At Bitcoin's price of roughly $83,300, the same 5,104 BTC would be worth around $425M today 📈
Three of the largest $5M grants went to GiveDirectly, the Open Medicine Foundation and MAPS, alongside many other organizations.
The donation happened after Bitcoin's 2017 bull market peak, while its price fell significantly during the fund's distribution period 📉
The current value difference does not mean charities lost money, as holding BTC would have involved years of significant price volatility ⚖️
Pine's identity, gender and country remain unknown, with the fund effectively ending in May 2018 after its final donation to the Internet Archive 🔎
Today's Pill - Bitcoin's history shows how early crypto wealth has also been used to fund real-world causes, while long-term price appreciation can dramatically change the value of past holdings 🔄
1