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$1.3M worth of BTC gave to Bitcoin-hodling noble cause in under 3 weeks

The Bitcoin Water Trust has effectively gotten more than $1.3 million worth of BTC gifts regardless of dispatching only three weeks prior.

New York-based non-benefit, Charity: water, has gotten more than $1 million in BTC gifts to its Bitcoin Water Trust inside three weeks of the trust’s dispatch.

The Bitcoin Water Trust was declared during the 2021 Bitcoin meeting in Miami. The drive stood out for its “HODL MODL” depository the executives system — with the non-benefit tolerating gifts in Bitcoin that it won’t contact until 2025.

As per the cause’s site, a sum of 32.5949 BTC has been given up until now, which compares to more than $1.3 million at current costs.

The foundation is wanting to use the speculative additions Bitcoin could make throughout the next few years. A June 14 blog entry from U.S.- based crypto trade Gemini — which is giving crypto authority administrations to the trust — affirms that gifts got by the foundation today could have a lot bigger effect whenever held into what’s to come:

“This new charity model — the HODL MODL — creates a new paradigm for charitable giving. It brings the HODL ethos of Bitcoin to charitable giving, and means your bitcoin donation today could make an even bigger impact tomorrow.”

Gemini’s organizers, Tyler and Cameron Winklevoss have likewise consented to coordinate with the initial 50 Bitcoin gave to the Bitcoin Water Trust.

“We’re thrilled to help a fellow mission-driven organization like Charity: water accept bitcoin and maximize its humanitarian efforts,” the post added.

Good cause: water was established in 2006, with the non-profi attempting to dispatch local area claimed water projects that give clean water and disinfection to agricultural countries. The association initially started tolerating Bitcoin gifts in 2014.