Clean water non-profit is launching celebrity-funded Bitcoin water trust. The water trust currently has collected more than 12 BTC so far, representing a cumulative value of $468,000 at today’s prices.
Charity Water is a non-profit organization in New York. It made a mandate to bring clean and safe driving water to developing countries. So, it has begun accepting BTC donations through a dedicated cryptocurrency fund.
This is the organization’s move to attract new donors to this initiative. In addition, the non-profit organization announced on Friday that the launch of Bitcoin water trust allows Charity water to receive and hold Bitcoin donations to fund global water projects through 2025.
Moreover, the fund’s assets will be held entirely in Bitcoin with the intended execution of water projects, which will also be settled in the flagship digital currency. Scott Harrison, the founder and CEO of Charity water, said that they had been encouraged by the overwhelming support.
He also added that they had already seen the Bitcoin trust initiative. In addition, he said that by establishing this trust, they aim to harness the transformational power of this generational digital technology to make a lasting social impact.
He also added that this process provides a potential model for other charities working to do the same.