Free Software Foundation $1 Million Bitcoin Donation Reduced by $140,000 Before Conversion

Last January, the Free Software Foundation received a donation of $1 million or 91.45 BTC from the Pineapple Fund. The donation, which was expected to be used to “empower free software activists and developers around the world,” has seen a drastic reduction in value due to the effects of last year’s downturn in the crypto market.

$1 Million Donation Reduced By $140,000 By The Time It Was Converted
A blog post claimed that the value of the donation had fallen to $860,000, at the time it was converted to U.S. dollars.

The donation from the Pineapple Fund arrived in the form of Bitcoin and had gone down to around $860,000 by the time we could convert it all to dollars. Around half of the donation from Handshake is earmarked for specific software projects; some of that will go to improving Replicant, the free Android fork, but that half won’t help fund the FSF’s general operations.

The FSF crucially funds and maintains the GNU C Compiler (GCC), arguably one of the most important open source packages in the world.

Reference: https://www.ccn.com/free-software-foundation-bitcoin-donationed-reduced-before-conversion/

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