NEWS

Roger Ver Gives FEE Highest-Valued Known Bitcoin Donation, Worth About $1 Million

DECEMBER 02, 2013

Entrepreneur and Bitcoin investor Roger Ver has given what may be the highest valued gift of the digital currency Bitcoin to The Foundation for Economic Education (www.FEE.org).

Ver announced his gift in a YouTube video, which you can see here: http://www.youtube.com/watch?v=orzhba2dV1A.

“FEE allowed me to understand just how important Bitcoin would become,” said Ver.

FEE president Lawrence W. Reed commented, “This generous, historic donation recognizes FEE’s longstanding commitment to ideas of free enterprise, market innovation, personal liberty and private alternatives to government monopolies. Of course, we invite others to follow Roger Ver’s lead by considering their own Bitcoin or other digital currency contributions. We will proudly acknowledge these trailblazers.”

As of this release, the gift of 1,000 BTC is worth approximately $US 1 million. Ver made the donation after losing a “bet” he made with the world about Bitcoin’s meteoric rise. While only off by two months in terms of Bitcoin’s relative performance, Ver nevertheless honored his bet and made FEE the recipient.

FEE executive director Wayne Olson said “The gift comes at an auspicious time for FEE, as the organization has repositioned itself to focus on a new generation of thought leaders and has been rapidly expanding its program offerings for that demographic. Together with growing levels of support from many donors, this will provide seed capital for new projects being planned in digital media outreach and online learning.”

FEE was the first non-profit of its kind to accept Bitcoin donations and the organization has been on the leading edge when it comes to exploring technologically disruptive innovations and private, nongovernmental institutions. FEE will soon release a short educational video on its website, which explains competition among currencies--including digital currencies like Bitcoin.

“This donation shows the power and transformative strength behind new technologies like Bitcoin,” added COO Carl Oberg “We are hacking the economy as we speak, and this is an example of how it's done. It's entrepreneurs like Roger Ver and others -- educated through organizations like FEE -- that are shaping a new landscape, helping create a freer economy for everyone.”

Ver, the CEO of MemoryDealers and angel investor, made an initial bet of $10,000 (the value of 1,000 BTC at the time) but recent events have pushed the dollar value into seven figures, setting the record.

FEE distinguished fellow Jeffrey Tucker was delighted by the announcement: “FEE has been out front on this, and took a risk to do so. It's a hugely worthy organization to support." Mr. Tucker has been one of the most articulate exponents of Bitcoin and the power of free people to improve human well-being.

FEE (The Foundation for Economic Education) is a 501c3 non-profit organization based in Atlanta, Georgia. The organization’s mission is to inspire, educate, and connect future leaders with the economic, ethical and legal principles of a free society. For young minds interested in an introduction to free market economics and its foundations in the broader philosophy of individual liberty, FEE is the best source for inspiring content, programs and community. FEE is not an academic or political organization; instead its focus is making the economic, ethical and legal principles of a free society widely accessible, easily understood and energizing to young minds. FEE, one of the oldest free-market organizations in the United States, was founded in 1946 by Leonard E. Read.

To learn more about FEE and Bitcoin, please read the articles in our Alternative Currency educational module: http://FEE.org/altcurrency.

For more information, contact Carl Oberg at coberg@fee.org or 914-591-7230.

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