In less than one month of the establishment of Charity: water, a selfless institution that is based in New York, it has acquired Bitcoin that is worth over $1.3M from contributions to fund its BTC Water Trust project.
The project was disclosed at the recent BTC convention that was held in Miami. It drew attention to its treasury control technique dubbed ‘HODL MODL,’ with contributions that are not profit-based which will not be used till four years.
Based on the organization’s website, about 32.59 Bitcoin has been contributed which is equivalent to $1.3M.
Hopefully, the contribution will leverage the speculatory benefit BTC can achieve in the future. According to a post on a blog made yesterday by Gemini, a United States crypto firm, contributions generated by the organization currently are going to yield a greater benefit if preserved to later days. The new HODL MODL model sets a new template for the selfless offering.
Cameron Winklevoss and Tyler, the founder of Gemini have accepted to use the initial fifty BTC that was contributed for the BTC Water Trust. According to the post, they are willing to aid the Charity: water in its project.
In 2006, Charity: water was established to provide sanitation and good water for developing countries. In 2014, it started to accept BTC contributions.
After Vitalik Buterin freely gave SHIB tokens of billions worth that he obtained from the meme-coin’s makers, Charity: water dominated the cryptocurrency platform. He gave 10% of his SHIB to the organization after discarding the ninety percent that was left to prevent other altcoin makers from dumping their supply for publicity. Among those benefiting from Buterin was the India Covid Relief Fund which obtained SHIB that is worth over one billion dollars.
On the 31st of last month, the Human Rights Foundation released many BTC-based donations as an aspect of its two hundred and ten thousand dollars BTC Development fund.
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