The foundation, which runs one of the most visited websites on the Internet, depends almost exclusively on user donations to cover its annual budget of roughly $50 million. Its decision to accept the digital currency comes as a growing list of corporations, including satellite television operator Dish Network, add Bitcoin as a payment method. Seitz Gruwell said the foundation will use the Bitcoin exchange Coinbase to accept Bitcoin and will convert the currency into U.S. dollars. “Since we now also have guidance on how to account for Bitcoin, there is a clear understanding of how to legally manage it,” she said.

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