According to rumors, the Wikimedia Foundation (WMF), the organization behind Wikipedia, has announced that it will no longer accept bitcoin donations. The WMF writes in an update that it “has decided to suspend direct acceptance of cryptocurrency as a source of the donation.” It also claims it will cancel its Bitpay account, blocking any future cryptocurrency contributions.
Following a protracted discussion with nearly 400 members of the WMF community, the majority voted 234 to 94 to eliminate crypto contributions. Some of the primary concerns focused on the environmental consequences of Bitcoin, the potential for fraud, and the fact that the WMF receives so few bitcoin donations in comparison to other kinds of payment. According to the WMF, bitcoin donations totaled $130,100.94 in 2021, accounting for only 0.08 percent of total contributions received. Following the vote of the community, the WMF undertook an internal discussion and reached the ultimate decision to halt cryptocurrency donations.
The World Monuments Fund first accepted Bitcoin, Bitcoin Cash, and Ether donations in 2014, however a series of concerns forced the organization to reconsider this policy. In January, Molly White, a long-time Wikipedia editor, proposed that the Wikimedia Foundation stop accepting cryptocurrency donations, arguing that it contradicts the organization’s commitment to environmental sustainability and also signals that the Wikimedia Foundation supports “inherently predatory” investments.
“I’m really happy that the Wikimedia Foundation implemented the request from its community, and I’m really proud of my community for making what I feel was the ethical decision after a lot of thoughtful discussions,” White said in a statement.
