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Wikipedia Stops Accepting BTC and ETH Contributions After 8 Years -Breaking

by Mike Robinson

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Wikipedia No Longer Accepts BTC or ETH Contributions after Eight Years

The Wikimedia Foundation, the company behind ‘Wikipedia’, has announced that they will no longer accept cryptocurrency donations. This decision was based upon a poll that members conducted. It took three months to prepare for the poll, which saw 71% voting against crypto.

Wikipedia accepted donations through CoinBase back in 2014. BitPay allowed for more cryptocurrency payments.

The Main Reasons for Wikipedia’s Divergance from Bitcoin

  • The lack of environmental sustainability – The majority of WMF members decided that supporting BitCoin donations would negatively impact the environment, and this goes against with Wikipedia’s commitment to environmental awareness.
  • The prevalence of scams – According to the majority of respondents, receiving donations in crypto does not help with transparency. Furthermore, Molly White, an editor and software engineer at Wikimedia, stated that Wikipedia would be at risk of damaging its own reputation by accepting an ‘inherently predatory’ form of donation.
  • A small volume of donations – Wikipedia received just over $130k worth of crypto donations in 2021, which amounted to just 0.08% of the foundation’s total contributions. Additionally, the total number of different donors did not exceed 400, an low number overall, which Molly White claims is just not worth the risk: “There are just too many issues with crypto for any potential revenue to be worth the cost of helping legitimize it.”

The Future Possible Return to Crypto

Though crypto miners are being criticized for using large amounts of computing power, Wikipedia’s spokesperson stated that Wikipedia will continue to monitor this situation. As such, it is possible for crypto donation methods to be discussed again.

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