Bitcoin Water Trust Raises $1.3 Million

The Bitcoin Water Trust, a fund recently launched by charity: water that accepts and holds bitcoin donations for providing water security around the world, has already received 33.75 BTC (over $1.3 million) since launching on June 4.

During the 2021 Bitcoin conference in Miami, the trust was announced as an exponential growth fund for providing clean water. The initiative’s unique treasury management strategy, termed “HODL MODL,” seeks to hold all bitcoin received until 2025 and leverage number go up to change more lives than it could now.

“This new charity model — the HODL MODL — creates a new paradigm for charitable giving,” shared U.S.-based bitcoin exchange Gemini, which is providing cold storage custody for the trust. “It brings the HODL ethos of Bitcoin to charitable giving, and means your bitcoin donation today could make an even bigger impact tomorrow.”

In addition, Gemini’s founder brothers, Tyler and Cameron Winklevoss, have committed to match the first 50 BTC received by the trust.

charity: water received its first bitcoin in 2014 and 569 BTC total before the inception of the new trust. Historically, every bitcoin received was immediately converted to fiat money and used to fund clean water projects or operating expenses, meaning the donations lost great purchasing and project-funding power.

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