Bitcoin Making Waves in Philanthropy
Hold onto your wallets! Fidelity Charitable, the philanthropic powerhouse with an impressive $16 billion in donor-advised funds, recently dropped a bombshell announcing a jaw-dropping surge in Bitcoin donations. Buckle up for the numbers: a whopping $9 million came pouring in during just the first half of the year, according to their eye-opening 2017 Giving Report. Clearly, the digital currency is not just a speculative asset; it’s also filling the coffers of charity!
The Bitcoin Rollercoaster
In a world where Bitcoin’s price swings like a pendulum – one day riding high, the next day crashing down – it’s remarkable to see its use as a payment method on the rise. It appears that Bitcoin is moving towards mainstream adoption faster than your uncle can refresh his stock portfolio! In fact, the cryptocurrency has delivered an astounding performance with returns hitting around 140% this year. Given this excitement, it’s no wonder that Bitcoin has captured the hearts—and wallets—of many generous donors.
Fidelity Charitable: Leading the Charge
So how did Fidelity Charitable get involved in this whole Bitcoin craze? Apparently, their partnership with Fidelity Labs has transformed the way philanthropic giving works. According to a company spokesperson, donors have been able to make Bitcoin contributions as far back as 2015. Fast-forward to 2017, and they’ve already exceeded last year’s figures by $2 million in Bitcoin alone!
A Shift in Charitable Trends
The 2017 Giving Report is more than just numbers; it’s a revealing snapshot of nearly 150,000 diverse donors and their evolving ways of giving. The report suggests a significant shift, with more philanthropists turning to various forms of non-publicly traded assets. This isn’t just a fad—it’s a charitable trend that is here to stay.
- Wealth is changing hands, and non-publicly traded assets represent a burgeoning source of philanthropic funding—accounting for a large chunk of U.S. wealth.
- In just five years, donations such as restricted stocks and cryptocurrencies surged from $391 million in 2012 to a staggering $796 million last year.
- Among those non-public assets, Bitcoin now contributes $7 million, proving that digital assets are making their mark in the world of charitable giving.
In Conclusion: A Bright Future for Bitcoin Philanthropy
So, what does this all mean? The increasing popularity of Bitcoin, alongside a rise in charitable giving through unconventional assets, signals a brighter future for philanthropy. Just when you thought charity wasn’t keeping up with the times, Fidelity Charitable shows us that innovation and generosity can go hand in hand. Cheers to a future where giving is just a Bitcoin transfer away!
