Pineapple Fund is a donation fund specialized in bitcoin donations. The current value of the fund is 5057 bitcoins, which amounts to around 73 million US dollars with the current price of bitcoin. The unknown owner of the Pineapple Fund decided to make a new donation by giving one million dollars worth of bitcoins to the Internet Archive for Christmas. The Internet Archive is a popular free digital library. This donation represents two thirds of the total funds raised by the Internet Archive, with the goal of the campaign set at 1.5 million dollars.
The Internet Archive issued a statement thanking to the Pineapple Fund and saying it was actively involved in the cryptocommunity since 2011: “We are honored to receive such a gift. We admire this donor for using bitcoin as a currency for donations. Whoever you might be, you are doing a lot of goof. Thank you.”
The Internet Archive was created in 1996 and its mission is to preserve all types of multimedia archives, such as text, audio and video, mainly in public domain. One of its most important features is a programme called Wayback Machine, which allows users to see websites through history and it goes back to 1996. Unfortunately, some websites disappeared from Wayback Machine and could not be seen using this feature.
The Pineapple Fund project was launched only two weeks ago and its creation was announced through a Reddit post. The anonymous person behind the Pineapple Fund says he or she owns 5057 bitcoins and all of them will be donated to different charity organizations. The slogan of the Pineapple Fund is: once you have enough money, the money does not matter.
According to the fund’s website, it has donated 15 million dollars to 14 different organizations until now. Some of the organizations are Watsi, Maps, Pencils of Promise, BitGive and The Water Project.
The largest donation was realized recently to the GiveDirectly foundation – around five million US dollars at the moment of the transaction. The GiveDirectly Foundation is performing a social experiment in Kenya where people from different villages is receiving a certain amount of money during the period of two years and another group is receiving money for 14 years. The idea is to analyze the ways the money is used and how this monthly payments could improve the lives of people living in extreme poverty. This initiative is collecting donations in bitcoin since 2014.
The owner of the Pineapple Fund wants to remain anonymous. He or she further explains that even the family and closest friends are unaware of the magnitude of his or her fortune in bitcoins. His BTC accounts is currently among the top 250 richest accounts based on the most popular cryptocurrency in the world.