'Predatory' Cryptos: Wikipedia Stops Taking Bitcoin, Ethereum Donations

Wikipedia will no longer accept Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Bitcoin Cash (BCH) as donations.

What Happened: Wikipedia editor and software engineer Molly White said on Twitter Sunday that the Wikimedia Foundation, the body behind the free web-based encyclopedia, has decided to “stop accepting cryptocurrency donations.”

“The decision was made based on a community request that the WMF no longer accept crypto donations, which came out of a three-month-long discussion that wrapped up earlier this month.”

See Also: How To Buy Bitcoin (BTC)

White shared a screenshot from the foundation, which indicated that it would be closing its BitPay account and removing the ability to accept cryptocurrency.

The Wikimedia Foundation has decided to stop accepting cryptocurrency donations. The decision was made based on a community request that the WMF no longer accept crypto donations, which came out of a three-month-long discussion that wrapped up earlier this month. pic.twitter.com/RHAD0FRA5W

— Molly White (@molly0xFFF) May 1, 2022

The Foundation said it would continue to “monitor the issue” and remains “flexible and responsive” to the needs of volunteers and donors.

See Also: Best Crypto Debit Cards

Why It Matters: The Foundation’s decision was based on a proposal from White that resulted in over 71% of 400 users voting to abolish cryptocurrency donations.

White — known by the pseudonym "GorillaWarfare" on Wikipedia — had argued cryptocurrencies were “inherently predatory” as investments and may not align with the foundation’s commitment to environmental sustainability. 

Wikipedia last year received $130,100.94 of donations in cryptocurrencies from 347 users, although digital coins contributed to only 0.08% of total revenue, according to the proposal.

Last year, Elon Musk-led Tesla Inc (NASDAQ: TSLA) stopped accepting Bitcoin for vehicle purchases, citing environmental concerns as well. 

Price Action: At press time, Bitcoin traded 0.3% higher over 24 hours at $38,587.97, while Ethereum traded 0.5% higher at $2,838.31 in the same period, according to Benzinga Pro data. 

Read Next: PayPal CEO Wants To Double Down On Digital Wallets, Sees Them As The Future

Photo: Harleen Quinzellová on Wikimedia