A Bitcoin tycoon, or whale as they are known in the business, has promised to give away most of their fortune to charities. The benefactor, who has decided to remain anonymous announced plans on Reddit, and has since launched a website called the Pineapple Fund, which will document his endeavour.
The generous investor wrote;
“I remember starting at Bitcoin a few years ago (…) Bitcoin has changed my life, and I have far more money than I can ever spend. My aims, goals and motivations in life have nothing to do with have XX million or being the mega rich. So I’m doing something else: donating the majority of my Bitcoins to charitable causes. I’m calling it The Pineapple Fund.”
The website states that they will donate to worthy charities that are preferably registered, as opposed to individuals, however, they have gone on to say that exceptions might be made in exceptional circumstances, although it is unsure what these would be.
There are a total of 5,057 Bitcoins to split between worthy causes, which amounts to about $86.4million, and is reportedly the majority of the owner’s cryptocurrency holdings.
Despite them remaining anonymous, making it hard to know their true intentions, the Bitcoin address has got the aforementioned balance, and they have already sent out 228 Bitcoins so far, so it would appear that their intentions are true. They have donated $1million to Watsi, The Water Project, the EFF and Maps, and $500,000 to the BitGive Foundation.
Don’t expect them to come forward and reveal their true identity any time soon though. The fund’s creator has explained why they have chosen to remain anonymous, writing;
“The more Bitcoin goes up, the more worried I am of my safety. I’d like to live a very low profile life, and most people in my life don’t even know the magnitude of the Bitcoins I have”.