Cryptocurrency to boost philanthropy isn’t the first good deed. The Pineapple Fund, whose founders are remain anonymous, have donated $5 million worth bitcoin to Agoura Hills, California based Open Medicine Foundation (OMF) over two separate transactions.
Someone named Pine rom the Pineapple Fund donated $1 million on 14th January, that gift was followed by another $4 million on 2nd February. The funds were deposited into non-profit’s BItPay account that are being converted into dollars.This will help accelerate the much needed research for myalgic encephalomyelitis/chronic fatigue syndrome (ME/CFS) and related chronic complex diseases.
OMF blog post says that Linda Tannenbaum, OMF CEO/President, believes the additional donation was made in response to the overwhelming gratitude expressed by patient community on Reddit and other social media platforms.
OMF boasts some of the top minds and leaders in science and research on the Scientific Advisory Board, including Nobel laureates and members of the National Academy of Sciences.
Pine was able to make anonymous donation due to private nature of blockchain, directly to OMF, without any banks or payment options. This wasn’t the first donated made by Pineapple Funds, they have summed up to $37 million now. Surely, it isn’t the last donation if you go by their website.