On Friday, the well-known organization charitywater.org announced the formation of the Bitcoin Water Trust, which celebrities will support. Until 2025, the trust will be able to store bitcoin donations to fund water projects all over the world.

Charity Water has established the Bitcoin Water Trust.

Several announcements were made at the Bitcoin 2021 conference in Miami, including one from charity water, a worldwide safe drinking water organization. Charity Water is a non-profit that aids in providing clean and safe drinking water to inhabitants in impoverished nations. On June 4, charity water announced the launch of the Bitcoin Water Trust. This celebrity-backed effort intends to use bitcoin (BTC) to spark a global water revolution, a “paradigm shift in the charitable sector adopting this digital asset.” 

The organization claimed it got its first bitcoin gift in 2014, and the leading cryptocurrency‘s value has increased by more than 100 times since then. According to the release, the Bitcoin Water Trust has opened the charity to celebrities and luminaries who want to give at least 1 BTC apiece to the fund. The Gemini exchange’s founders intend to match the first 50 BTC contributed.

Members of Charity Water’s Bitcoin Water Trust who are part of the “Founding 100” include well-known figures such as Meltem Demirors of Coinshares, Mike Novogratz of Galaxy Digital, and Yoni Assia Etoro, pro-skateboarder Tony Hawk, and others.

“We believe in the generosity of this community and the potential of bitcoin and blockchain as a force for good in the world. We’ve been encouraged by the overwhelming support we have seen already for the Bitcoin Trust Initiative,” said Scott Harrison, So during the announcement, the founder and CEO of charity water said. Harrison went on to say:

By establishing this trust, we aim to harness the transformational power of this generational digital technology to make a lasting social impact, and in the process, to provide a potential model for other charities who are working to do the same.

According to a legendary skateboarder, Bitcoin has the potential to have a significant positive impact on charitable causes.

Tony Hawk also said how he has been a long-time supporter of charity water and has personally witnessed the organization’s activities in Africa.

“I’ve proudly supported the mission of charity water for almost a decade and traveled with them to Ethiopia to see their work first-hand. I’m honored to support the Bitcoin Water Trust,” Hawk remarked. “I believe bitcoin has serious potential for charitable growth. I’m eager to see the fund thriving by 2025, helping millions more get clean water,” the well-known skateboarder added.

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