It may not be ‘real’ money, but they’re accepting donations of it.
Recently, the Foundation for Economic Education, which describes itself as “one of the oldest free-market organizations in the United States,” announced that it will accept bitcoin donations.
“It’s official: FEE accepts donations in bitcoin,” the donation page of the organization’s website reads. “Donate a few bitcoins today to help us fulfill our mission to inspire, educate and connect future leaders with the economic, ethical and legal principles of a free society.”
Bitcoin is a completely electronic currency developed anonymously as a computer code in 2009. Online, bitcoin functions as cash to those who accept or wish to exchange it. A limit of about 21 million bitcoins and an equation-based “mining” procedure combine to prevent devaluation.
Based on the increases in the value of a single bitcoin since the currency’s creation, these features have succeeded. In 2009, a single bitcoin was worth $0.89; as of April, that value has increased to over $100 — higher than many national currencies. Some attribute this to the increasing unreliability of the fiat currencies used by most of the world.
“Because of what’s going on in Cyprus and Europe, people are trying to pull their money out of banks there,” BitPay.com CEO Tony Gallippi told Fox News in March.
FEE is not the only entity to begin accepting bitcoins.
In May, the Daily Caller News Foundation reported that 2016 Libertarian Party presidential candidate Darryl Perry declared that he will accept bitcoins to fund his campaign.
“The Darryl W. Perry for President (2016) campaign will not be accepting donations in currencies recognized by the federal legal tender laws,” the letter stated.
According to the Constitution, only Congress has the power “[t]o coin Money, regulate the Value thereof, and of foreign Coin…”
But it doesn’t stop others from trying.
