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Pineapple Fund

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Pineapple Fund
EstablishedDecember 2017
FounderAnonymous / "Pine"
TypeCharitable fund
Budget
5,057 bitcoins
Disbursements$55 million[1][2]

The Pineapple Fund was a philanthropic project by an anonymous individual which gave away 5,057 bitcoins to 60 charities. The amount was valued at $86 million in December 2017.[3][4][5][6] Some of the themes supported were medical research, environmental conservation, human rights and psychedelic therapy.

History

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The Pineapple Fund was announced with a post on Reddit on December 14, 2017. The individual used the pseudonym "Pine", and explained that "My aims, goals, and motivations in life have nothing to do with ... being the mega rich. So I'm doing something else: donating the majority of my bitcoins to charitable causes".[7] The individual behind the fund has remained pseudonymous.[citation needed]

An application form was made available on the website, open to all charities around the world. Speaking to the magazine Philanthropy, the founder said that more than 10,000 applications were received.[8]

After five months, a total of 5,104 bitcoins had been donated and liquidated for a value of $55 million after exchange rate volatility.[9]

Donations

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The fund's first donation was $1 million to Watsi, a charity for crowdfunding healthcare.[10]

The fund donated a total of $3 million to SENS Research Foundation[11][12][13] and Methuselah Foundation for development of rejuvenation therapies based on periodic repair of the cell and tissue damage that causes aging.[14]

The fund made its three largest donations of $5 million each to GiveDirectly,[15] The Open Medicine Foundation,[16] and to MAPS.[17]

The fund donated $2 million to the Organ Preservation Alliance.[14]

The fund has also donated $1 million or more to organizations such as BitGive Foundation,[18] Openstreetmap,[19] Internet Archive,[20] and the Sustainable Ocean Alliance.[21]

See also

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References

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  1. ^ Roose, Kevin (27 December 2017). "Some Things About Tech Were Good in 2017. No, Really". The New York Times – via NYTimes.com.
  2. ^ "Pineapple Fund". pineapplefund.org. Archived from the original on 2020-01-08. Retrieved 2018-01-10.
  3. ^ "Bitcoin philanthropist sets up $85M investment fund to support charities". The Next Web. 14 December 2017.
  4. ^ Guo, Eileen (17 December 2017). "Can the $86 Million "Pineapple Fund" Save the Soul of Bitcoin?". Inverse.
  5. ^ Coren, Michael. "A bitcoin millionaire's fortune will fund psychedelic research, a cure for ageing, and clean water". Quartz.
  6. ^ Murphy, David (17 December 2017). "'Pineapple Fund' Giving Away $86 Million in Bitcoins to Charity". PC Magazine.
  7. ^ Schroeder, Stan. "Bitcoin tycoon promises to give away $86 million worth of bitcoins to charity". Mashable. Retrieved 2018-01-10.
  8. ^ Lindsay, Drew. "'It Just Felt Like a Miracle': Small Groups Win Big in Bitcoin Donor's $56 Million Giving Spree". Philanthropy. Retrieved 21 September 2018.
  9. ^ Tahir, Habiba. "$55 Million: Pineapple Fund Bids Farewell after Making Final Anonymous Donation". Yahoo Finance. CCN. Retrieved 21 September 2018.
  10. ^ PineappleFund (2017-12-13). "I'm donating 5057 BTC to charitable causes! Introducing The Pineapple Fund". r/Bitcoin. Retrieved 2023-12-12.
  11. ^ Bitcoin Transaction 10dd3b4bb1…
  12. ^ Bitcoin Transaction f0aa1cc5bc…
  13. ^ "SENS Research Foundation 2019 Annual Report" (PDF).
  14. ^ a b "The Pineapple Fund Donates Millions to the Organ Preservation Alliance and Methuselah Foundation". Fight Aging!. 2021-03-29.
  15. ^ Weller, Chris. "The world's largest basic income experiment just received a $5 million donation in bitcoin". Business Insider.
  16. ^ "Pineapple Fund increases donation to $5 million". 2 February 2018.
  17. ^ "PRESS RELEASE: Pineapple Fund Offers $4 Million Matching Grant to MAPS". MAPS. Retrieved 2018-01-10.
  18. ^ Busby, Mattha (2017-12-24). "Pineapple Fund: why is an anonymous bitcoin millionaire giving away $86m?". The Guardian. ISSN 0261-3077. Retrieved 2018-01-10.
  19. ^ OpenStreetMap Receives Large Donation from the Pineapple Fund!
  20. ^ "Internet Archive gets $1 million Bitcoin donation from philanthropic Pineapple Fund". VentureBeat. 2017-12-27. Retrieved 2020-07-30.
  21. ^ Coldewey, Devin (14 February 2018). "Pineapple Fund drops $1M on the Sustainable Ocean Alliance and its new accelerator". techcrunch.com. United States of America: TechCrunch. Retrieved 14 February 2018.
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