Bitcoin tycoon donates $86m to charity

An anonymous Bitcoin millionaire has established a ‘philanthropic purse’ known as the Pineapple Fund.

The charitable benefactor has made a range of massive donations over the holiday period, totaling a breathtaking $86 million.

Matths Busby broke the story in the UK’s Guardian newspaper, citing a quote from the internet tycoon:

Once you have enough money, money doesn’t matter.

Busby outlines that Pine, the eponymous founder of the fund, ‘declared in mid December “I’m donating 5,057 BTC to charitable causes!” and since then has given away $7,550,000 in bitcoin to charities and causes around the world, with a view to dispersing the remaining bitcoin over the next several months.’

Pine went on to speak with the paper, under condition of anonymity:

I’m happy that I can help change the world for the better,” Pine says, “I have a great deal of faith in humanity, but I wish more people could live with love and respect for each other.

The Pineapple Fund will benefit nine charities for the time being. They are a collection of non-profit organisations which include ‘medical researchers, those providing poverty-stricken communities with basic necessities, and technology-related causes such as advocacy and open-source projects.

Cryptocurrency has been a long-contested subject, with some believing it to be the future of transactions and finance, and others refuting its stability and apparent value. If, however, more stories such as this emerge, a practical and culturally-beneficial aspect to decentralized funds such as Bitcoin may become apparent.

Colin J McCracken
Colin J McCracken

Director and Executive Editor

Colin J McCracken is an Irish editor and writer of both fiction and journalism. Coming from a background in education and film, his passions are split between the environmental and the entertaining. Constantly striving for a more sustainable existence and trying to balance it while simultaneously buying too many books.