Wikipedia Founder: We Have No Cryptocurrency Ambitions

Wikipedia Founder: We Have No Cryptocurrency Ambitions
Jimmy Wales: Bitcoin is a a super-interesting technology but it is a bubble with a lot of mania and hype around it. Photo Credit: Happy Tech

Wikipedia founder Jimmy Wales has shut down rumors that his organization is expanding into cryptocurrency or about to issue its own ICO.

According to a report by Business Insider, Wales said the popular online encyclopedia platform is not considering issuing its own cryptocurrency, telling the news outlet in a chat that; “We are absolutely never going to do that. Zero interest.”

Rumors of Wikipedia’s cryptocurrency ambitions were sparked after Mr. Wales delivered a speech at a blockchain event in Berlin, Germany. But Wales maintained that he spoke at the event simply because “People pay me to give speeches.”

Wales has never been the biggest fan cryptocurrencies and he has always had reservations about the blockchain technology. He has been quoted in the past as saying that many ICOs are “absolute scams” and that they offer “nothing of value.”


He however conceded that “it’s a super-interesting technology” but then went further to describe it as a “bubble with a lot of mania and hype around it.”

Wikipedia is a not-for-profit which is financed by public donations in cash and assets. In 2014, the organization begun accepting donations in bitcoin, even though Wales initially said he was “cautious” about cryptocurrency.

According to a CoinDesk report at the time, Wikipedia made £140,000 in its first week of crypto donations. Indeed, the roughly 237 BTC it received then would be worth $1.8 million at today’s prices.