While you’re out spending your Bitcoins on fancy cocktails at swaggy midtown haunts, other cryptocurrency champions have been working to set up the BitGive Foundation, a non-profit that will solicit donations from the Bitcoin community and make gifts in its name. The goal of the charity, which will be helmed by Connie Gallippi, is to amass a multi-million dollar Bitcoin fund that can be used to make charitable donations to worthy causes in the public health and environment sectors.
“The long-term potential of the foundation is tremendous,” Ms. Gallippi said in a release. “The expected increase in value of Bitcoin will make donations grow over time, giving the foundation more financial stability and increasing funds to provide to charitable causes.”
BitGive’s board of directors is stacked with Bitcoin bigwigs, including BitPay cofounder Stephen Pair and Patrick Murck, who serves as the Bitcoin Foundation’s legal counsel.
With the continued fluctuations of Bitcoin and increasing scrutiny from governments, it’s unclear whether BitGive will flourish as the philanthropic arm of the Bitcoin community or buckle under the weight of the many roadblocks still in the cryptocurrency’s way. But hey, BitGive is a much more upstanding place to spend your coin than Silk Road.