Bitcoin-Only Charity Pledges Up To $4 Million for PTSD Research

Pineapple Fund, a Bitcoin-only charity, has promised to match up to $4 mln in donations to a non-profit for MDMA-based PTSD research.The non-profit leading the research, the Multidisciplinary Association for Psychedelic Studies (MAPS), is seeking $25 mln in donations for Phase 3 of their drug trials.MAPS hopes to use MDMA-assisted psychotherapy as an effective treatment for PTSD sufferers.The Pineapple Fund was created in early December 2017 by an anonymous donor who goes by the Reddit handle /u/PineappleFund.The donor presents themselves as an early Bitcoin adopter whose goal is to give $86 mln, or 5057 bitcoins, of earnings to charity.A Jan.10 Reddit post by /u/PineappleFund calls for donations to MAPS and announces the $4 mln pledge.The post also explains the usefulness of the MAPS trials due to what the anonymous donor sees as a lack of effective FDA-approved treatments for those suffering from PTSD./u/PineappleFund appeals to the cryptocurrency community to send Bitcoin or fiat payments as donations to MAPS: FDA approval for these experimental therapies is expected by 2021, pending positive results of the Phase 3 trials.Pineapple Fund already gave 59.89 bitcoin, with a value of $1 mln at the time of donation, to MAPS on December 14, 2017.According to the Fund’s website, so far approximately $20 mln has been donated to 23 organizations, including the Internet Archive, a NGO financing universal health care, and a philanthropic blockchain technology company.Pineapple Fund is not the only Bitcoin-only charity: BitHope, a Bulgarian-based NGO, exclusively accepts cryptocurrency to fund crowdsourced campaigns on its site.

Source: Youtube