A Bitcoin driven charitable organization, the Pineapple Fund, recently announced that it will double the amount of every donation it receives, up to $4 million, for the Multidisciplinary Association for Psychedelic Studies (MAPS) through March 10th.
The Pineapple Fund is hoping this offer will help the non-profit research organization to meet its funding goal needed to start Phase 3 clinical trials of MDMA-assisted psychotherapy in individuals suffering from severe post-traumatic stress disorder (PTSD). The Pineapple Fund has already donated $1 million to this project, before issuing its recent pledge.
Pine, an anonymous Bitcoin owner behind the fund, has shared: “I believe we, the cryptocurrency community, can fully fund Phase 3 trials. Prescription MDMA could be a gift to this world from the Bitcoin community. Let’s make MDMA medicine a reality, and give the gift of an enjoyable life to those suffering from PTSD. If you believe that psychedelic drugs can have incredible therapeutic potential, then I believe this is one of the highest impact projects today.”
This recent pledge is just one of many examples exhibiting how investors in Bitcoin and the technology behind it are making a positive impact around the world.
Primarily considered a party drug going by the names of Molly or Ecstasy, MDMA does not currently provide any accepted medical applications. Furthermore, it is an illegal drug for personal use in almost all countries. This makes it difficult for most established charitable organizations to stand behind such a controversial project, for fear of public retaliation.
The Pineapple Fund, with its anonymity, has backed several other controversial projects as well, including an experiment with universal basic income in Africa, where it donated $5 million. It also gave a large donation to Wings for Conservation, which provides aerial protection against elephant poachers in Chad.
All together, The Pineapple Fund claims to have donated over $6.5 million in Bitcoin to several different charities so far, and this most recent pledge will drive that number up even further.