Wikileaks Bitcoin Donations Approach $50 Million In Its Known BTC Wallet Address
Wikileaks could be sitting on a fortune as the controversial outfit could have received about 4,054 Bitcoin in donations. This means that Wikileaks is sitting on $46.2 million worth of Bitcoin based on the current market price of the king coin, Bitcoinist reports.
The revelation was made by a Reddit user known as Boredguy32 who posted that the not-for-profit organization switched its wallets last year but a closer look at the two wallets reveals the amount of BTC that have been received over the years.
Most of the donations are suspected to have been received from individuals and organizations that want to show their support to Wikileaks activities in exposing government secrets. In 2016, the amount of Bitcoin received totaled to about $22 million.
Growth Noticed After Assange’s Arrest
Following WikiLeaks founder’s Julian Assange‘s confronting arrest the organization raised more than $30,000 worth of Bitcoin in few weeks.
Contributions in prominent altcoin Zcash (the only other cryptocurrency WikiLeaks accepts) also increased, with 16.25 ZEC ($1,100) sent since Assange was arrested. Until his arrest, its Zcash address had been mostly unused. The biggest donation since Assange left London‘s Ecuadorian embassy has been a single transfer of 1 BTC ($5,200), recorded just hours later.
In fact, the flood of Bitcoin sent to WikiLeaks has boosted its daily average donation dramatically. WikiLeaks has, on average, been receiving 0.87 BTC ($4,500) per day, since Assange’s arrest. Earlier in April, WikiLeaks‘ wallet was receiving just 0.006 BTC ($312) each day.
Currently, it is not yet known whether the organization still holds huge portions of the $46 million. Following the arrest of the founder, it is possible that huge amounts could have gone to cover his legal fees as well as support its operations to expose government secrets.
It is also possible that the organization might have transferred a large amount of the donation to its secret wallet addresses. As the prices of Bitcoin and other cryptos keep on surging, it is possible that Wikileaks is sitting on huge volumes of Bitcoin awaiting to cash in at the right time and earn huge profits.
WikiLeaks began taking Bitcoin donations way back in 2011, making it among the first Bitcoin adopters. In the recent past, the organization has been using Bitcoin in large scales than earlier.
The famous Bitcoin creator, Satoshi Nakamoto, allegedly requested Wikileaks in 2010 to go slow on the use of Bitcoin to give the coin enough space to grow without raising eyebrows from government officials. He posted on Bitcointalk forum:
“I make this appeal to WikiLeaks not to try to use Bitcoin. Bitcoin is a small beta community in its infancy. You would not stand to get more than pocket change, and the heat you would bring would likely destroy us at this stage.”
It seems Assange and his team heeded to Nakamoto’s plea and didn't cause any unwarranted heat to the startup Bitcoin project.
Do you think other organizations should start accepting Bitcoin donations to increase their revenues? Share with us in the comments section.