Wikipedia Racks Up $140,000 Worth Of Bitcoin Donations In A Week

Their sceptical decision to accept Bitcoin seems to be a success

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© 2017 Zach Copley - Flickr

Last month Wikipedia announced that it would start accepting donations in bitcoin, and within just a week, the popular site has amassed over $140,000 in new funds (according to Coinbase).

These donations are assumed to be due to the power of digital currency that resulted in Bitcoin itself’s success, where contributors save on tax and transaction costs. Last year, the site’s Foundation racked up $18.7 million, putting this week’s income at a less than one percent of their total revenue. However, another thing Bitcoin is also infamous for is its mass fluctuation rates. Although the Wikimedia Foundation will overcome by immediately converting the currency into dollars, Bitcoin’s lack of news coverage as of late caused the crypto currency to settle, until the last 24 hours when, following Wikipedia’s announcement, it experienced its first significant price surge in more than a week.