Donating Bitcoin to charities is on the rise
Bitcoin’s value has been rising steadily throughout 2017 with more people using the decentralized currency than ever before. One of bitcoin’s great use cases, which is on the rise, is how easy it is to donate to charitable funds. According to a recent Fidelity Charitable 2017 Giving Report donations to Fidelity Charitable made in bitcoin is growing significantly.
Fidelity Charitable Sees Significant Growth in 2017 Bitcoin Donations
Just recently Bitcoin.com reported on the CEO of Fidelity Investments, Ms. Abigail Johnson telling the public how much the company liked bitcoin. The company detailed plans to integrate with Coinbase, and Ms. Johnson also revealed Fidelity’s in-house cafeteria accepts the cryptocurrency for food and drinks. Now the company has published it’s annual Fidelity Charitable 2017 Giving Report which details how charitable donations made in bitcoin is on the rise.
Fidelity’s 26-page report details that a lot of people are donating with non-publicly traded assets and a very popular contribution method is bitcoin. In the first six months of 2017 Fidelity Charitable received $9 million in BTC so far and that number has already surpassed 2016’s bitcoin donations by $2 million. The organization has turned over $3.1 billion in non-publicly traded assets like real estate, life insurance policies and even grain. The digital asset bitcoin has been used for Fidelity’s philanthropic funds and grants since 2015.