Pineapple Fund, a Bitcoin Charity, Promised To Pour up to $ 4 million in donations to a non-profit organization.

The Multidisciplinary Association of Psychedelic Studies (MAPS), a nonprofit, is conducting a $ 25 million research grant for Phase 3 of their drug trials. MAPS hopes to use MDMA-assisted psychotherapy as an effective treatment for people with post-traumatic stress disorder.

The Pineapple Collection was created in early December 2017 by an anonymous donor who uses the Reddit handle / u / PineappleFund. The donor presents himself as an early Bitcoin adopter whose goal is to give $ 86 million, or 5057 bitcoins, of earnings to charities.

A January 10, Reddit post by / u / PineappleFund calls for donations to MAPS and announces the commitment of $ 4 million. The post also explains the usefulness of MAPS trials because of what the anonymous donor views as a lack of effective FDA-approved treatments for those who suffer from post-traumatic stress disorder.

/ u / PineappleFund calls the cryptocurrency community to send Bitcoin "If you believe that psychedelic drugs can have incredible therapeutic potential, then I believe it's one of the projects having the most impact today.

The anonymous donor then concludes:

"I believe that we, the cryptocurrency community, can fully fund phase 3 trials. Prescription MDMA could be a gift to this world of the bitcoin community. "

The FDA approval for these experimental therapies is scheduled for 2021 , pending the positive results of Phase 3 trials.

The Pineapple Fund has already donated 59.89 bitcoin, worth $ 1 million at the time of donation, to MAPS on December 14 2017. According to the Fund's website, approximately $ 20 million is t already been donated to 23 organizations, including Internet Archive, Pineapple Fund is not the only charity Bitcoin: BitHope, a Bulgarian NGO, accepts only cryptocurrency to fund crowdsourcing campaigns on its site. Other charities based on Bitcoin include BitGive and CommonCollection.