ShapeShift CEO Donates $1,000 in Bitcoin to Venezuelans: A Real Lifeline

Erik Vorhees, the CEO at instant digital asset exchange ShapeShift, has donated $1,000 in BTC to AirdropVenezuela. The latter is an initiative which aims to offer a helping hand to people in Venezuela who are currently torn by government corruption and unprecedented inflation.

“I just donated $1,000 in BTC to AirdropVenezuela Who else wants to help Venezuelans abandon fiat and escape tyranny?”

Cryptocurrencies in the country are proving to be particularly valuable because its economy is torn by hyperinflation. 2018 saw an unprecedented 1.7 million percent inflation rate, causing a lot of people to turn to the viable alternative which cryptocurrencies provide.

A Real Lifeline

Vorhees’ donation in BTC does represent a real lifeline because it’s definitely capable of helping a lot of people out.

A recent story published by the New York Times called Bitcoin Has Saved My Family has quickly gone popular. It shows that Bitcoin, as well as other cryptocurrencies, are far more than just a buzzword, especially when it comes to living in a failing economy and a collapsing dictatorship.

The story depicts the struggles of a Venezuelan family amid a 3.5 percent daily inflation rate and how Bitcoin is the only thing that’s able to keep the family afloat and put food on the table.

Taking Down the Dictatorship, “Figuratively”

The initiative that Vorhees is donating to is called Airdrop Venezuela. Popular cryptocurrency artist cryptograffiti has created a mural made out of actual Venezuelan Bolivar bills. There are one thousand of these bills on the wall and they all paint the picture of Venezuela’s President – Nicolas Maduro.

The idea behind the project is fairly simple – people are free to donate $10. As soon as they do that, they will be able to watch how one of the thousand bolivar notes, comprising the mural and Maduro’s face, disappears on a live stream.

While figuratively, the initiative represents the will of people to overthrow the existing dictatorship.

Obviously, the community welcomed it quicker than expected. Out of the $10,000 donation goal, $10,280.38 has already been raised. This represents a total of 2.76185489 BTC.

In addition, the pieces of the mural are going to be signed and saved as donor prizes. The top donor will be entitled to a choice between two framed paintings, both of which depict Maduro’s eyes watering up with tears.

The proceeds of the campaign are going to go towards building facilities at the Fundacion Renacer event venue. It provides support for families who are affected by the economic crisis in the country.

What do you think of the initiative and the fact that it managed to raise $10,000 so quickly? Don’t hesitate to let us know in the comments below!

The post ShapeShift CEO Donates $1,000 in Bitcoin to Venezuelans: A Real Lifeline appeared first on Live Bitcoin News.

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