What will you do if you have $ 86 million? This is a dilemma for some of Bitcoin’s first discoverers, thanks to the enormous rise in the price of the Crypto-Currency – from less than $ 1,000 last year to a peak of nearly $ 20,000 in December this year.
A generous Briton decided to follow Bill Gates’ leadership and create a philanthropic project – the Pineapple Fund (Pineapple) because “after having enough money, money does not matter,” he says.
The founder, known only as Pine, said in mid-December: “I’m giving 5 057 bitcoin to charity causes!”, Writes Guardian. And since then, he has given $ 7,550,000 in bitcoin for charities and causes worldwide, with the idea of distributing the rest in the next few months.
“I am happy to help change the world for the better,” Pine said in a telephone conversation, keeping her anonymity. “I have a great faith in humanity, but I want more people to live with love and respect for each other,” he adds.
Early investors in the crypto-currency, who have the foresight to hold their bitcoin, are now generously rewarded. In a world where most people with high net capital accumulate even more wealth, and when inequalities increase, Pine changes the trend.
He explains that he is looking for three things when choosing what to donate: “How influential is the activity (especially on an international scale), what innovative skills the various causes of the mass bring, and how effective and sustainable they are.” But he admits that he mostly trusts his instincts and the causes he believed in.
For the time being, donations have been received by 9 non-governmental organizations. Among them, they are doing medical research to help poor communities, technology-oriented organizations – such as open-source technologies.
One of the organizations that received a donation is the Electronic Frontier Foundation, which protects the rights of online users.
Another organization is Watsi, a platform that wants to introduce universal health care in the United States. Also among the donors are the SENS Research Foundation, which is developing treatment for degenerative diseases and the Water Project, which supports the construction of safe water sources in Africa.
The continuing donor action will likely challenge the imposed view that Bitcoin is a currency that is more often used for criminal purposes.
However, it fails to address fears that the Cuban currency bubble will burst very soon