$1.3M worth of BTC donated to Bitcoin-hodling charity in less than 3 weeks

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The Bitcoin Water Trust has already received much than $1.3 cardinal worthy of BTC donations contempt launching conscionable 3 weeks ago.

$1.3M worthy  of BTC donated to Bitcoin-hodling foundation  successful  little  than 3 weeks

New York-based non-profit, Charity: water, has received much than $1 cardinal successful BTC donations to its Bitcoin Water Trust wrong 3 weeks of the trust's launch.

The Bitcoin Water Trust was announced during the 2021 Bitcoin league successful Miami. The inaugural attracted attraction for its “HODL MODL” treasury absorption strategy — with the non-profit accepting donations successful Bitcoin that it volition not interaction until 2025.

According to the charity’s website, a full of 32.5949 BTC has been donated truthful far, which equates to much than $1.3 cardinal astatine existent prices.

The foundation is hoping to leverage the hypothetical gains Bitcoin could marque implicit the coming years. A June 14 blog post from U.S.-based crypto speech Gemini — which is providing crypto custody services for the spot — asserts that donations received by the foundation contiguous could person a overmuch larger interaction if held into the future:

“This caller foundation exemplary — the HODL MODL — creates a caller paradigm for charitable giving. It brings the HODL ethos of Bitcoin to charitable giving, and means your bitcoin donation contiguous could marque an adjacent bigger interaction tomorrow.”

Gemini’s founders, Tyler and Cameron Winklevoss person besides agreed to lucifer the archetypal 50 Bitcoin donated to the Bitcoin Water Trust.

“We’re thrilled to assistance a chap mission-driven enactment similar Charity: h2o judge bitcoin and maximize its humanitarian efforts,” the station added.

Charity: water was founded successful 2006, with the non-profi moving to motorboat community-owned h2o projects that supply cleanable h2o and sanitation to processing nations. The enactment archetypal began accepting Bitcoin donations successful 2014.

Related: The emergence of crypto charities: Elongate and Munch rise millions for assorted causes.

Charity has go a fashionable taxable wrong the crypto manufacture successful caller months aft Ethereum co-founder Vitalik Buterin donated billions worthy of SHIB tokens that had been airdropped to his wallet by the meme-coin’s creators.

Buterin donated one-tenth of his SHIB holdings to foundation aft burning the remaining 90% to deter different altcoin developers from airdropping monolithic quantities of their token’s proviso to his wallets for promotion. The India Covid Relief Fund was among the apical recipients of Buterin’s dog-token stash, receiving more than $1 billion worthy of SHIB.

On May 31, the Human Rights Foundation (HRF) — an enactment that supports quality rights activism globally — launched respective Bitcoin-based grants arsenic portion of its $210,000 Bitcoin Development fund.

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