On Friday, the well known nonprofit charitywater.org announced the launch of a celebrity-funded Bitcoin Water Trust initiative. The trust will be allowed to hold bitcoin donations to fund water projects worldwide until 2025.
Charity Water Launches Bitcoin Water Trust
A number of announcements were revealed at the Bitcoin 2021 conference in Miami and one announcement was from the global safe drinking water nonprofit, charity water. The organization charity water is a nonprofit that helps provide clean and safe drinking water to citizens living in developing countries. On June 4, charity water revealed a celebrity-funded Bitcoin Water Trust initiative which aims to leverage bitcoin (BTC) to spark a “paradigm shift in the charitable sector adopting this digital asset.”
The charity said that it received its first bitcoin donation back in 2014 and since then the leading crypto asset has grown in value by more than 100x. According to the announcement, the Bitcoin Water Trust has opened the charity to celebrities and luminaries who would like to donate at least 1 BTC each to the fund. The founders of the Gemini exchange plan to match the first 50 BTC donated.
Charity water’s Bitcoin Water Trust members who are part of the “Founding 100” include well known individuals like Coinshares’ Meltem Demirors, Galaxy Digital’s Mike Novogratz, Yoni Assia of Etoro, pro-skateboarder Tony Hawk, and more.
“We believe in the generosity of this community, and the potential of bitcoin and blockchain as a force for good in the world. We’ve been encouraged by the overwhelming support we have seen already for the Bitcoin Trust Initiative,” said Scott Harrison, founder and CEO at charity water explained during the announcement. Harrison further added:
By establishing this trust, we aim to harness the transformational power of this generational digital technology to make a lasting social impact, and in the process to provide a potential model for other charities who are working to do the same.
Legendary Skateboarder Believes Bitcoin Has Serious Potential to Impact Charitable Causes in a Positive Way
Tony Hawk also spoke about how he supported charity water for many years and has seen the group’s efforts first-hand in Africa.
“I’ve proudly supported the mission of charity water for almost a decade, and traveled with them to Ethiopia to see their work first-hand. I’m honored to support the Bitcoin Water Trust,” Hawk remarked. “I believe bitcoin has serious potential for charitable growth. I’m eager to see the fund thriving by 2025, helping millions more get clean water,” the popular skateboarder added.
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