Open-source online encyclopedia Wikipedia is now accepting bitcoin through a new partnership with Coinbase.
The Wikimedia Foundation, which owns and curates Wikipedia, announced on its official blog that it is now accepting donations in the digital currency.
The organization cited grassroots community support for the integration, saying that demand for bitcoin support led to discussions on the leadership level.
In the blog post, Wikimedia chief revenue officer Lisa Gruwell said that the discussion process was in-depth, but with more clarification available on the legal status of digital currency, Wikimedia was able to move forward.
In a separate email sent to Wikipedia supporters, the organization said that the goal is to offer "flexible" payment options to those who donate to keep the online encyclopedia running. With bitcoin, the Foundation declared, Wikipedia supporters can enjoy greater versatility in their donation options.
One more way to give
The reason for the prior apprehension, the organization said, was the operational and legal complexity and uncertainties surrounding bitcoin.
But the Foundation leadership cited its partnership with Coinbase as a method for sidestepping some of the logistical needs that come with accepting bitcoin, which includes the occasional need to exchange bitcoin for fiat currency.
According to the Wikimedia blog post:
Speaking with CoinDesk, Coinbase director of business development Adam White remarked that the Foundation took the slow and steady approach to make sure that it maintained full legal compliance. But once those concerns were addressed, "that gave wikipedia enough confidence to say let's move forward with this and choose a solution", he said.
Among the benefits discussed includes the option for small donations, which is attractive for a platform like Wikipedia that runs on the support of its global readership.
Notably, White told CoinDesk that the Wikipedia integration marks the largest non-profit to accept the digital currency to date.
With the integration now active, all users have to do is go to Wikipedia’s donation page and opt to pay in bitcoin. Like with any option, users can choose to make either one-time or recurring donations to the free encyclopedia.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.