With the Bitcoin price explosion in recent years, many early believers suddenly found themselves with a lot of money, often resulting in tremendous charity acts.
The most recent involves a pseudonymous Twitter user who won a custom Ledger Nano hardware wallet at a Binance Academy competition. The winner loaded up the wallet with different cryptos and gave it to a young Indian girl.
The charitable act was announced by the winner on Twitter but did not disclose how the recipient was chosen.
Based on the tweets and replies, the amount of crypto gifted to the girl is 1 BTC, split up into different coins. The distribution of digital currencies is as follows: 20% ETH, 20% BTC, 10% BTCABC, 10% XLM, and 10% TRX.
Some have questioned the distribution saying a purely Bitcoin donation would likely reap the biggest gains in the future. “I have selected projects which I feel have a long term lifespan. Let’s see how it goes,” the competition winner responded.
Such a donation’s security issue has also been raised. A poster said the kid would probably lose the Ledger. “It’s been kept in the vault. She will inherit when she is 18,” CryptoPineapple answered. Deciding not to disclose much about the child was seemingly an effort to help secure the donation as well as its receiver.
Binance CEO CZ has picked up the news about the philanthropic act.
The Binance executive is no stranger to philanthropy. He elected to donate all new coin listing fees on his exchange to different concerns in October and is creating a charitable wing of his company.
For readers following the crypto space closely, the name CryptoPineapple may remind them of a recent act of kindness from a pseudonymous crypto community member. The Pineapple Fund project was formed in December 2017.
The fund involved gifting 5,057 BTC to more than 60 charities. Donation recipients included organizations dedicated to human rights, conservation, and psychedelic drug therapy.
The Pineapple Fund was revealed on a Reddit post dated December 14, 2017. The users referred to themselves as “Pine,” saying:
“My aims, goals, and motivations in life have nothing to do with… being the mega rich. So I’m doing something else: donating the majority of my bitcoins to charitable causes.”
For now, the name similarity between CryptoPineapple’s loaded Ledger and the Bitcoin Pineapple Fund are purely coincidental.