Wikipedia Banks $140,000 in Bitcoin Donations in First WeekBy: Josh Wolford - August 7, 2014
The Wikimedia Foundation lives on donations – that’s how you can read the Wikipedia entry on World of Warcraft and not be bombarded with ads for Mountain Dew Code Red. And garnering enough donations to keep afloat hasn’t always been easy for the non-profit – a fact that can be proven by Jimmy Wales pleading face appearing every once in a while as you browse the online encyclopedia.
Last week, the Wikimedia Foundation announced that it would start accepting donations in bitcoin, with the help of wallet service Coinbase. With the help of Coinbase, any donations made in bitcoin can be immediately converted into US dollars.
Ok, so it’s been a week. How’d they do?
Pretty well, actually. The Wikimedia Foundation, which umbrellas Wikpedia, Wiktionary, Wikimedia Commons, and more, raised over $140,000 over the past week.
“Wikipedia is run by a non-profit organization and has been able to operate ad-free because of the generosity of donors from across the world. For donors worldwide, bitcoin is a convenient donation method that ensures 100% of donated funds go to the cause. Donors can also enjoy significant tax benefits by donating bitcoin. As inspiring non-profits such as the Wikimedia Foundation continue to adopt bitcoin as a payment method, we look forward to seeing you and the community show strong support as well,” says Coinbase.
Strong support indeed. Wikimedia did say that bitcoin donations have been a frequent demand of the community for a while now. Though it’s unlikely that Wikimedia can sustain such a robust donation flow, it does show that there are plenty of people out there willing to give up their bitcoin for the cause.