Late last year in December just before Bitcoin reached its all-time high, a Redditor by the username ‘Pine’ found themselves with more wealth than they knew what to do with. Pine decided to donate the majority of their bitcoins to various charitable organizations through a fund dubbed, the Pineapple Fund.
The anonymous donor set a personal goal to give away a grand total of 5057 bitcoins, worth roughly $86 million at the time. To achieve the goal, Pine created a website for the Pineapple Fund, and began both polling the Reddit community for potential charities and accepting applications from non-profits seeking a piece of the donation pie.
Pine this week took to Reddit again to announce that the philanthropist had successfully donated a total of 5104 bitcoins to over 60 different charities, exceeding the originally planned total of 5057 bitcoins donated. According to Pine, due to the crypto market bubble popping and bitcoin’s value falling substantially, the value decreased to a total of $55 million donated to various charities.
The Pineapple Fund donated to charities ranging from education projects, to green initiatives, to those suffering from PTSD, and just about everything in between.
Pine offered this statement along with a farewell to the community that supported the efforts behind The Pineapple Fund, now that Pine considers the project complete:
“I'm happy and proud of the impact that will come, mostly thanks to the amazing charities and the dedicated people behind them.”
Pine noted that he or she missed “the old times when bitcoin was a small community, and you could count the number of 'altcoins' with one hand,” then ended his/her farewell post on Reddit with an inspirational parting message to the cryptocurrency community:
“If you're ever blessed with crypto fortune, consider supporting what you aspire our world to be.”
The final donation from The Pineapple Fund was made to the Internet Archive, a non-profit digital library with a mission of providing free universal access to all knowledge, including books, movies, music, and an archive of over 327 billion web pages.