Wikipedia Accepts Donations in Bitcoin

ST PETERSBURG (Scrap Monster): Wikipedia during Wednesday announced that it would accept donations in the digital currency Bitcoin. Wikipedia, the decentralized and free encyclopedia has already accepted 13 different payment methods for donations and now it also included the decentralized crypto currency, Bitcoin.

Wikimedia Foundation of Wikipedia has joined with Coinbase to process the Bitcoin donations. The chief executive officer, Lisa Seitz Gruwell, said that that it had always been important to the foundation to ensure donating was as simple and inclusive as possible. The foundation depends mostly on the donations of its users for covering its yearly budget of nearly $50 million.

Now, number of corporations, which includes satellite television operator Dish Network, accepts the Bitcoin as a payment mode and due to the growing list, the foundation took the decision. But it will not hold the donation in Bitcoin. The Coinbase will cover the Bitcoin into equivalent U.S dollar, thus Bitcoin volatility will not affect the donations. Lisa added that they were now very clear how to manage it legally.