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One redditor that got rich off being an early Bitcoin investor started a charity in 2017 to give back to the community, and in span of 2 years has donated over 5100 Bitcoins (around $90 million worth at time)

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One redditor that got rich off being an early Bitcoin investor started a charity in 2017 to give back to the community, and in span of 2 years has donated over 5100 Bitcoins (around $90 million worth at time)

So a Redditor that made boatload of money being a very early investor/miner realized he/she had more than they actually need, so they decided: Hey I'm gonna donate a good portion of it to charity and to people in need. This is their original post that they posted almost 6 years ago

Original post of theirs on Reddit

Fund through which they would donate the funds to other charities was called PineappleFund, and in the end they donated around 5104 Bitcoins to more than 50 different charities. Bitcoin worth of the originally donated amount of 5057 Bitcoins was worth around $85 million at the time, and later on they donated another 47 Bitcoins in 2018.

Donations were of course in fiat. Bitcoins was sold to fiat currency (USD) and donated directly to some of the popular or less known charities. Charities included $5 million to GiveDirectly, $5 million to Open Medicine Foundation, $1 million donated to Water Project, $1 million to EFF, some went to smaller charities suggested by Redditors in original and other threads etc...

They also made applications for charities on their website to apply for a possible donation, and according to the owner of the website and Pineapple Fund, more than 10,000 applications were made and in the end around 60 charities ended up being donated to.

One of their last comments on their Reddit account that was made 2 years ago, implied there might be Pineapple Fund V2 which would be amazing thing to happen again even if funding would be quite lower this time. Maybe this person is waiting for another bullrun to trigger another round of charity funding when BTC prices stand higher.

submitted by /u/mbdtf95
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