Internet Archive, a website founded in 1996 to preserve the history of the global computer network, announced yesterday that it has received a $ 1 million gift in bitcoins. The money, according to the website, came from an anonymous philanthropic fund called the Pineapple Fund.
In order to serve as a document in the history of the Internet, Internet Archive has collections of books, videos and audios, as well as managing projects such as Way Back Machine, a tool that shows how the sites used to be. The internet archive, however, is a non-profit organization, and relies on donations like this to keep servers hosting this network history online.
This donation is a small portion of the total $ 86 million the Pineapple Fund plans to donate to institutions focused on clean energy and the Internet for all. Although little is known about the person or group of people behind this fund, he claims that he intends to donate “most” of his virtual currencies to important causes.
“In the early days of bitcoin, I saw the promise of decentralized money and decided to mine / buy / trade some magic coins from the internet. The amazing returns of bitcoin over the years have led to a much larger amount than I am able to spend” , says the website of the fund.
This is a good use of the excess money generated by the cryptomaniac, and as VentureBeat points out, this is not the only fund with such a history. In 2013, for example, the Bitgive organization was created, which aimed to join donations in bitcoins for a number of important causes, in order to combat the negative image that was still strongly associated with crypto-coins.