Bitcoin Water Trust Receives $ 1.3 Million In Donations In Less Than Three Weeks
Charity: water, a New York-based non-profit organization, launched the Bitcoin Water Trust three weeks ago and received over $ 1.3 million in Bitcoin donations.
The Bitcoin Water Trust was announced during the Miami Bitcoin Conference 2021. The initiative has garnered attention with its treasury management strategy – HODL MODL. The non-profit organization decided not to dispose of the received Bitcoins until 2025.
According to the charity’s website, donations of 32.5949 BTC have already been received, which is more than $ 1.3 million at current exchange rates.
On June 14, in a post on the blog of the American crypto exchange Gemini, it was confirmed that the donations received by the charity now will have a much greater impact in the future if saved:
“This new charity model — the HODL MODL — creates a new paradigm for charitable giving. It brings the HODL spirit of Bitcoin to charitable giving, and means your bitcoin donation today could make an even bigger impact tomorrow. By donating Bitcoin — an investment in the future of money — you’re investing in the future of clean drinking water for years to come.”
Charity: water was founded in 2006 as a non-profit organization working to launch the community water projects that provide clean water and sanitation to developing countries. The organization first began accepting Bitcoin donations in 2014.