Pineapple Fund Awards $1 Million in Bitcoin to Internet Archive

Pineapple Fund Awards $1 Million in Bitcoin to Internet Archive

The Internet Archive has announced a gift of bitcoin worth $1 million from the Pineapple Fund, a fund created by an anonymous donor to donate bitcoin to charities and causes around the world.

The Internet Archive has been accepting donations in bitcoin since 2011 and, as part of its efforts to explore how "Internet innovations can be useful in the nonprofit sphere," has offered the cryptocurrency to employees in lieu of salary and bonuses, accepted them in its online store, and encouraged the use of bitcoin in other ways.

The donor, who goes by the name "Pine," established the Pineapple Fund with a donation of 5,057 bitcoins — worth $86 million at the time it was announced in mid-December. According to the fund, it has made gifts of bitcoin to thirteen other nonprofits — $5 million to GiveDirectly, $1 million each to charity: water, the Electronic Frontier Foundation, MAPS, the Mona Foundation, New Story, Pencils of Promise, the SENS Research Foundation, the Water Project, and Watsi; $500,000 to BitGive; $100,000 to Green Steps; and $50,000 to OpenBSD.

"We so admire this donor using bitcoin as the currency of giving this season and are honored to be the recipients of such a gift," the Internet Archive said in a blog post. "Whoever you are, you are doing a world of good."

Katie Barrett. "Pineapple Fund Gifts $1M in Bitcoin to the Internet Archive!." Internet Archive Blog Post 12/26/2017.