The Internet Archive has received a $1 million donation from the philanthropic Pineapple Fund, which was set up by an anonymous Bitcoin millionaire.
The Bitcoin benefactor announced the Pineapple Fund earlier this month, committing the equivalent of $86 million in Bitcoin to a range of good causes. To date, the fund has announced around $18 million in donations to 13 charities, including Charity Water, SENS Research Foundation, Pencils of Promise, the Electronic Frontier Foundation (EFF), and Green Steps. Ten of the fund’s donations so far have amounted to the equivalent of $1 million each.
Not a great deal is known about the Pineapple Fund’s benefactor, who has claimed to be donating “a majority” of their cryptocurrency holdings to good causes and who wrote the following statement:
Sometime around the early days of Bitcoin, I saw the promise of decentralized money and decided to mine/buy/trade some magical internet tokens. The expectation-shattering returns of Bitcoin over many years has led to an amount far more than I can spend.
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. For reference, The Pineapple Fund is bigger than the entire market cap of Bitcoin when I got in, and one of the richest 250 Bitcoin addresses today.
The Pineapple Fund isn’t the first charity-focused Bitcoin organization to come to the fore. The BitGive Foundation launched back in 2013 with a view to soliciting Bitcoin donations for good causes — in fact, this foundation also recently received a $1 million pledge from the Pineapple…