Charity bitcoin Foundation Pineapple Fund, donated $4 million for research of posttraumatic stress disorder (PTSD).
Studies are conducted by non-profit organization Multidisciplinary Association for psychedelic studies (MAPS). The organization plans to treat sufferers of post-traumatic stress disorder with drug therapy with the use of drugs MDMA – better known as ecstasy. To do this, researchers need $25 million for a third phase of testing. Foundation Pineapple decided to help them.
Pineapple Fund was founded in December of 2017 anonymous person who created a Reddit thread in /u/PineappleFund. Unknown philanthropist had one of the early supporters of the cryptocurrency, which has set a goal to raise $86 million in bitcoins to charity.
Here is how he argued the decision:
“I remember a few years ago started with bitcoin. When the course ceased to be unambiguous, I thought it was a triumphant moment for the cryptocurrency. I watched and admired to the price jump up to $15 .. $20 .. $30.. wow! Still don’t believe in the reality of this. Bitcoin changed my life: I have a lot more money, than ever. I do not aspire to own millions or be mega-rich. So I sacrifice most of their BTC to charity. I call it Pineapple Fund”.
But why was the name chosen Fund Pineapple (Pineapple Foundation)? What’s the pineapple?
In an interview with the Guardian, the founder of the Foundation explained that it has always been a fan of this fruit:
“Now is a good time to share a pineapple. I have too many bitcoins, and I would like them to distribute.”
10 Jan at Reddit, the Foundation published a post about a fundraiser for MAPS. It is reported that Pineapple has already made $4 million from himself. The post also explains the usefulness of the research MAPS, because, in the author’s opinion, treatment methods, approved by Management on sanitary inspection behind quality of foodstuff and medicines (FDA), is not effective in the treatment of post-traumatic syndrome.
Pineapple Fund called cryptocurrency community to send bitcoins or Fiat money as donations for MAPS:
“If you think that psychedelic drugs can have incredible therapeutic potential, then I am sure that it is now one of the most important projects… I’m sure the crypto community is able to fully Fund the third phase of testing. The use of MDMA in the treatment can become a gift to the world from the bitcoin community”.
It is expected that these experimental treatments for PTSD are approved by the FDA by the end of 2021. Everything will depend on the success of the third phase of the research.
It is reported that Pineapple has already allocated Fund of the Association of 59.89 MAPS of bitcoins equivalent to $1 million at the time of donation, 14 Dec 2017.
According to the website of the Fund was credited with about $20 million to 23 organizations. Among the beneficiaries were: project of the Internet Archive, a non-governmental organization Watsi involved in the financing of health care around the world, as well as BitGive – philanthropic company that uses blockchain technology.
Pineapple Fund is not the only charitable Fund specializing in bitcoin. Thus, the Bulgarian public organization BitHope also takes only cryptocurrency to Finance crowdsourcing companies. Among other charities are known for their good deeds and BitGive CommonCollection.