Nonprofit Charity: water’s Bitcoin Water Trust Initiative aims to raise 100 BTC in donations that will be HODL in the next epoch.
Nonprofit Charity: Water, which focuses on bringing clean drinking water to people in developing countries, has announced its “Bitcoin Water Trust Initiative,” which aims to raise 100 BTC to advance its mission.
“The trust will enable charities to receive: water and ‘HODL’ bitcoin donations to fund global water projects through 2025,” read a press release shared with Bitcoin Magazine. “In accordance with the values of the donors, the trust’s funds are held in Bitcoin and the indented execution of the water projects it finances and builds is carried out in Bitcoin.”
The publication also noted that Charity: Water received its first Bitcoin donation from professional skateboarder Tony Hawk in 2014, and the USD equivalent of the donation rose “more than a hundred fold”. But it had liquidated Bitcoin before its exponential price surge, along with 569 other BTCs it has since received in donations, according to an announcement slated to be released at the 2021 Bitcoin conference.
This experience prompted the organization to take a closer look at how Bitcoin could serve as a tool to further its mission.
“After learning more about Bitcoin, seeing its price rise, and even more captivated by the enormous untapped potential of the blockchain technology that powers it, Charity: Water launched the Bitcoin Water Trust Initiative in hopes of a paradigm shift in the World to make a non-profit sector that is taking over this digital asset, ”the press release said.
The trust is looking for 100 people to give at least one bitcoin each, and the first 50 BTC of donations will be doubled by Gemini cryptocurrency exchange founders Tyler and Cameron Winklevoss, according to a press release. Early committed donors include Mike Novogratz, CEO of Galaxy Investment Partners, cryptocurrency influencer Anthony Pompliano, and CEO of the Digital Currency Group, Barry Silbert.
“I proudly support the Mission of Charity: Water for nearly a decade and have traveled with them to Ethiopia to see their work firsthand,” Hawk said, according to the statement. “I am honored to be supporting the Bitcoin Water Trust, and I believe Bitcoin has serious potential for charitable growth. I look forward to the fund flourishing and helping millions get more clean water through 2025. “
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
Comments are closed.