Wikipedia will no longer accept Bitcoin (CRYPT: BTC), ether (CRYPTO:ETH) and bitcoin cash (BCH) as donations.
What happened: Wikipedia editor and software engineer Molly White said on Twitter on Sunday that the Wikimedia Foundationthe organization behind the free web-based encyclopedia, has decided to “stop accepting cryptocurrency donations.”
“The decision was made based on a community request that WMF no longer accept crypto donations, which emerged from a three-month discussion that ended earlier this month.”
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White shared a screenshot of the foundation indicating it was closing down BitPay Account and removing ability to accept cryptocurrency.
The Wikimedia Foundation has decided to stop accepting cryptocurrency donations. The decision was made based on a request from the community that WMF is no longer accepting crypto donations, which emerged from a three-month discussion that ended earlier this month. pic.twitter.com/RHAD0FRA5W
— Molly White (@molly0xFFF) May 1, 2022
The foundation said it will continue to “monitor” the issue and remain “flexible and responsive” to the needs of volunteers and donors.
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Why it matters: The foundation’s decision was based on a proposal by White, which resulted in over 71% of 400 users voting to abolish cryptocurrency donations.
White — known by the pseudonym “GorillaWarfare” on Wikipedia — had argued that cryptocurrencies as investments are “inherently predatory” and may not align with the foundation’s commitment to environmental sustainability.
Wikipedia received $130,100.94 in cryptocurrency donations from 347 users last year, although digital coins accounted for just 0.08% of total revenue, according to the proposal.
Last year, Elon Musk-LED Tesla Inc (NASDAQ: TSLA) has stopped accepting Bitcoin for vehicle purchases, also citing environmental concerns.
Price promotion: At press time, Bitcoin is trading 0.3% higher at $38,587.97, while Ethereum is trading 0.5% higher at $2,838.31 over the same period, according to data from Benzinga Pro.
Continue reading: PayPal CEO wants to double digital wallets and sees them as the future
Photo: Harleen Quinzell on Wikimedia
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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