Portnoy’s Barstool Fund Now Accept Crypto Donations

Portnoy's Barstool Fund Now Accept Crypto Donations

Crypto holders are not relenting on driving Bitcoin to reach mainstream adoption. The asset has been surging tremendously and inducing smiles to the faces of holders.

These holders are now extending the generosity to the outside world, hence promoting awareness regarding the leading cryptocurrency, Bitcoin.

Dave Portnoy, the founder of media company Barstool Sports, who recently launched a Barstool relief fund, is reportedly accepting funds in Bitcoin. Thus, the non-profit-making Barstool fund has now enabled crypto donations.

The initiative was obliged to raising money for small businesses that have been influenced by the Covid-19 pandemic.

The fund had currently raised more than $5 million from over 53000 donors. The contribution fund is budgeted to help businesses, but it is yet to launch until the end of the year due to taxation reasons.


Crypto Community Responds With Tremendous Generosity

Just a few hours after its integration, the fund started experiencing massive support from the crypto space. Presently, the record reveals that a significant part of the donated funds was from the crypto community.

The floor was opened as Morgan Creek Digital provided a Bitcoin address for the Barstool fund via a crypto donations company, The Giving Block.

Moreso, the Barstool fund does not only accept donations in Bitcoin. According to a Cointelegraph report on Friday, donations are also accepted in other cryptocurrencies like Ethereum, Litecoin, Bitcoin Cash, Zcash, Basic Attention Token, Chainlink, and the likes.

Morgan Creek Digital’s co-founder and partner, Anthony Pompliano, said donations worth about $750,000 came from the crypto community as of Friday morning.

“It is hard to track every donation coming out of the crypto community, but we know of at least $750,000 that has been donated in US dollars or crypto. The actual number is likely higher.” He said.