Charity: water, a New York-based nonprofit with a mandate to convey clear and protected driving water to growing international locations, has begun accepting Bitcoin (BTC) donations via a devoted cryptocurrency fund — a transfer that would assist the group entice new donors in the direction of its initiative.
The launch of the Bitcoin Water Trust permits charity: water to obtain and maintain Bitcoin donations to fund international water tasks via 2025, the nonprofit introduced Friday. The fund’s property might be held solely in Bitcoin, with the meant execution of water tasks additionally to be settled within the flagship digital foreign money.
“We’ve been encouraged by the overwhelming support we have seen already for the Bitcoin Trust Initiative,” mentioned Scott Harrison, founder and CEO at charity: water, including:
“By establishing this trust, we aim to harness the transformational power of this generational digital technology to make a lasting social impact, and in the process to provide a potential model for other charities who are working to do the same.”
One of many fund’s most outstanding donors is skilled skateboarder Tony Hawk, who’s backed charity: water for greater than a decade. “I’m honored to support the Bitcoin Water Trust, and I believe Bitcoin has serious potential for charitable growth,” he mentioned.
Charity: water has tapped 100 visionaries to donate at the least 1 BTC with a view to meet its lofty purpose of amassing at the least 100 BTC. The primary 50 BTC in donations might be matched by Bitcoin entrepreneurs Tyler and Cameron Winklevoss. The fund’s different preliminary members embody among the most recognizable names in crypto, akin to Mike Novogratz, Barry Silbert, Anthony Pompliano, Meltem Demirors, Cory Klipstein, Yoni Assia, Invoice Miller, David Marcus and Ayesha Kiani.
Crypto-focused charities have exploded in recognition lately, reflecting the mainstream’s rising acceptance of digital property. The rise of crypto charities was just lately on show when two blockchain tasks, Elongate and Munch, swiftly raised over $3 million for numerous charitable causes. In the meantime, The Giving Block launched a brand new Crypto Giving Pledge in April to ramp up industry-wide donation efforts. The American Most cancers Society has additionally begun accepting cryptocurrency donations via a devoted fund established in partnership with The Giving Block.