Billionaire’s grandson Bill Pulte wants to give Bitcoin to people in Africa ๐จ This article is 5 years old...
Billionaire’s grandson Bill Pulte wants to give Bitcoin to people in Africa
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Updated: Apr. 28, 2020 at 10:36 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bill Pulte, the heir to the Detroit real estate giant PulteGroup, has set his sights on sending Bitcoin to those in need living in Africa. Pulte, who gained popularity by giving out hundreds of thousands of dollars to strangers on Twitter, is big on Bitcoin and believes it could be used to fight poverty in Africa.
Billionaire’s grandson believes Bitcoin could be used to help poverty
When it comes to Bitcoin, most highlight its ability to provide financial freedom from governments and other regulators. Others use it as an example of a perfect investment vessel, whose value is almost certainly going to rise due to its scarcity.
Few, however, see Bitcoin as a tool that can be used to fight poverty. Bill Pulte, the heir to the Detroit real estate giant PulteGroup, believes the world’s largest cryptocurrency is the most efficient way to give to those in need.
The creator of the #Twitter Philanthropy movement, Pulte gained prominence earlier this year for giving away hundreds of thousands of dollars to strangers on Twitter. He randomly selects people in desperate need of help through his 1.7 million Twitter followers and gives them everything from cars to satoshis.
While most of Pulte’s philanthropic efforts were focused on the U.S., he now wants to give more of his money to Africa. Pulte said:
“In addition to America and other countries, I feel like giving some Bitcoin to people in Africa … Bitcoin could be given to many people in need in Africa and QUICKLY! Time to start thinking outside the box and using Twitter to help everyone … or as many as we can!”
Pulte one of the few traditional investors bullish on Bitcoin
While many criticized Pulte for giving away money “haphazardly and undemocratically,” Pulte claims he is doing charity only with the money he earned. In an interview with the Detroit Free Press, Pulte said that he became wealthy through his private equity firm, independent of his grandfather William Pulte, the founder of the PulteGroup.
He is also one of the few traditional investors that have embraced cryptocurrencies. Earlier in December, Pulte announced that will begin giving out cryptocurrency on Twitter, both to help those in need and increase adoption. Pulte said via Twitter:
“I think more people would give to others if they had the money … holding the door for a stranger is something that doesnโt cost a cent. Itโs kindness and thankfully it never runs out. Spread kindness people.”
As a philanthropist, Pulte believes cryptocurrency has the potential to help the world’s poorest and solve the problem of the rising number of the unbanked. He elaborated:
“Cryptocurrency can help the worldโs poorest…especially those who are โunbankedโ … as a philanthropist, I therefore want to promote adoption. Leave comment why you need Bitcoin and Iโll pick one person to send some satoshis to … Yes this is real”
Bitcoin’s sudden crash didn’t seem to have scared the outspoken Pulte. His tweet announcing he bought the coin’s dip earlier this week was met with overwhelming support from his followers, with even Justin Sun, the founder and CEO of Tron, celebrating the move.
However, Pulte didn’t disclose any details about his African Bitcoin giveaway. It’s still unclear how he plans on distributing BTC or who will receive it. Many of his followers pointed out Bitcoin has more utility as a store of value and he would be better off giving away another cryptocurrency that can be used as a means of payment more easily.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
