The parent company behind Wikipedia will no longer accept cryptocurrency donations.
The Wikimedia Foundation began accepting such donations – which it immediately converted into dollars – in 2014 at the request of its users.
That decision has now been reversed, and the organisation’s BitPay account closed down, following a proposal from one of its editors Molly White.
White wrote that accepting crypto donations was a tacit endorsement of “extremely risky investments” and technology that are “inherently predatory”.
She added that the leading virtual currencies Bitcoin and Ethereum, which are based on the proof-of-work model, are “extremely damaging to the environment” which may not align with the project’s sustainability commitments.
She said the Wikimedia Foundation risked reputational damage from accepting donations in crypto form.
More than 70% of those voting backed the move.
“The Wikimedia Foundation has decided to discontinue direct acceptance of cryptocurrency as a means of donating,” read a statement. “We began our direct acceptance of cryptocurrency in 2014 based on requests from our volunteers and donor communities.
“We are making this decision based on recent feedback from those same communities. Specifically, we will be closing our Bitpay account, which will remove our ability to directly accept cryptocurrency as a method of donating.
“We will continue to monitor this issue, and appreciate the feedback and consideration given to this evolving matter by people across the Wikimedia movement. We will remain flexible and responsive to the needs of volunteers and donors.
“Thank you again to everyone that has provided valuable input on this increasingly complex and shifting topic.”
Only 0.08% of the project’s revenue last year, amounting to $130,100, was donated in crypto form.