Bitcoin philanthropist donates $5M to Open Medicine Foundation

Open Medicine Foundation, a nonprofit research organization based in California, received an anonymous $5 million donation in bitcoin last week, Reuters reports.

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An anonymous benefactor gave OMF $4 million Friday after already donating $1 million last month through its account with BitPay. OMF set up its BitPay account about one year ago to help collect anonymous bitcoin donations, an effort OMF said has been slow to take off.

The donor calls themselves “Pine” and claims to belong to the Pineapple Fund, whose website says it’s already donated around $37 million to various charities and projects, according to Reuters. Pineapple Fund eventually hopes to donate $86 million in total.

“Donating $86 million of bitcoins to charity because once you have enough money, money doesn’t matter,” the website states.

The peer-to-peer, decentralized nature of bitcoin enables trading by those who wish to remain secret. Reuters notes bitcoin is also popular amongst those buying and selling illegal goods and services on the internet.

“This significant donation will help OMF accelerate and expand current research into ME [myalgic encephalomyelitis], CFS [chronic fatigue syndrome] and other chronic complex diseases and to keep fighting for a better future for patients,” Linda Tannenbaum, founder and president of OMF, told Reuters.

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