ABOUT
My First Bitcoin is a Bitcoin education nonprofit that operates almost entirely on Bitcoin rails. In 2024, they held 100% of organizational savings in Bitcoin, processed over 800 Bitcoin transactions, and operated the entire year without a bank account. Their payment breakdown shows 63% Lightning Network, 23% on-chain Bitcoin, and only 14% fiat (decreasing quarterly). They publish quarterly transparency reports to their community and donors, setting the standard for Bitcoin-native nonprofit operations.
BITCOIN POLICY
- ▸Reserves: 100% of organizational savings held in Bitcoin (confirmed for 2024)
- ▸Operational Payments: 85%+ of payment volumes sent using Bitcoin or Lightning Network
- ▸Transaction Volume: Over 800 Bitcoin transactions in 2024
- ▸Payment Breakdown: 63% Lightning Network, 23% On-chain Bitcoin, 14% Fiat (decreasing quarterly)
- ▸Banking: Operated entire 2024 without a bank account
- ▸Transparency: Quarterly reports to community and donors
TREASURY TIMELINE
WHY THIS MATTERS
My First Bitcoin demonstrates operational proof that nonprofits can function almost entirely on Bitcoin rails. Their transparency and quarterly reporting set a standard for Bitcoin-only organizations.
RESEARCH CITATIONS
SHOWING 12 OF 12 CITATIONS
Bitcoin-Only Policy Transparency Report
In 2024, My First Bitcoin held 100% of its reserves in Bitcoin and sent over 85% of payments via Bitcoin/Lightning Network. Executed over 800 Bitcoin transactions. Operated entire year without a bank account.
My First Bitcoin - Geyser Fund Profile
We are My First Bitcoin, a bitcoin education non-profit founded in 2021 and now providing open-source Bitcoin education for the world.
Bitcoin Diploma Custom GPT
Official AI-powered educational tool created by My First Bitcoin to teach Bitcoin fundamentals through interactive lessons and assessments.
IRS Form 990 Tax Filings
501(c)(3) tax-exempt since November 2022. EIN: 88-3728599. 2024 Revenue: $439,959.
2025 Annual Report and 2026 Plan
My First Bitcoin demonstrates operational proof that nonprofits can function almost entirely on Bitcoin rails with full transparency and quarterly reporting.
Bitcoin Treasury Policy Page
Organization explicitly states: "My First Bitcoin holds 100% of donations in Bitcoin to align our treasury with our educational mission and protect against fiat currency devaluation."
Mission Statement & Founding Story
Founded in late 2021 by John Dennehy. Mission: "Independent, impartial, community-led Bitcoin education will change the world."
Donation Page - Bitcoin Only
Donation page exclusively accepts Bitcoin payments with on-chain and Lightning Network options, demonstrating commitment to Bitcoin-only treasury strategy.
Bitcoin Magazine: Education Can Change The World
Created in late 2021 as Mi Primer Bitcoin to empower Salvadorans with Bitcoin education. Established independence and impartiality as core values.
Bitcoin Magazine: Global Expansion
Pioneering Bitcoin education project from El Salvador taking mission global beyond El Salvador operations.
Expenses Transparency Page
Public breakdown of funding sources. Commitment to quarterly reporting. Community-funded model (not corporate or government funded).
Bitcoin Diploma AI Agent
Custom GPT educational assistant demonstrating technical infrastructure and commitment to scaling Bitcoin education through AI automation. Public-facing AI agent indicates operational sophistication beyond basic Bitcoin acceptance.
HOW TO DONATE
- 1.Visit myfirstbitcoin.org for donation options
- 2.Accepts Lightning Network payments (preferred, 63% of volume)
- 3.Accepts on-chain Bitcoin transactions
- 4.Fiat donations also accepted but decreasing quarterly
CATEGORY
CONFIRMEDConfirmed Bitcoin Treasury Holders
IRS FINANCIALS
SOURCE: PROPUBLICA NONPROFIT EXPLORER (IRS FORM 990)
QUICK LINKS
Related News & Articles
My First Bitcoin Operates Entirely on Bitcoin Rails in 2024
MFB publishes quarterly transparency report showing 100% of reserves held in Bitcoin, 800+ transactions, and full-year operation without a bank account.
Bitcoin Education Nonprofit Achieves 85% Lightning Network Payment Volume
Analysis of My First Bitcoin's payment breakdown: 63% Lightning Network, 23% on-chain Bitcoin, 14% fiat (decreasing quarterly).
Setting the Standard for Bitcoin-Native Nonprofit Operations
Case study examining how My First Bitcoin operates as a fully Bitcoin-native organization with quarterly transparency reporting.
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FREQUENTLY ASKED QUESTIONS
Common questions about My First Bitcoin's Bitcoin holdings, donation process, and verification status.