17/12/2017 · Bitcoin’s unpredictability is something that The Pineapple Fund itself is keeping in mind. “We’d like to distribute most of the funds in one to two months due to bitcoin volatility,” Pine told.
A while back, a crypto enthusiast calling himself “Pine” founded the Pineapple Fund, which was valued at 5057 BTC ($86 million). To date, the Pineapple Fund had committed $8 million to eight charities. Reports indicate that Pine began to mine Bitcoin on an old PC at home when the currency was still quite new. Unlike most early adopters.
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Pineapple Fund sent Bitcoin to OMF through BitPay, and, per OMF’s nonprofit setting, the cryptocurrency was immediately converted to cash. Following the initial $1 million, Pine committed another.