Donors Gave $22M in Crypto to Fidelity Charity Arm in 2017
Givers to mutual fund investment company Fidelity’s charity arm, Fidelity Charitable, have donated $22 million worth of bitcoin this year.
The charity will accept donations in bitcoin until December 22, according to the company. Donations in crypto through the month of November represented about $11 million, Fidelity Charitable said. It has since seen that figure double since the start of December.
The increase in bitcoin donations could be due simply to the “giving season,” as Matt Nash, senior vice president of donor engagement for Fidelity Charitable, said.
Bitcoin cryptocurrency holders would also be required to pay taxes on funds if they were planning to cash out before the next year—charitable donations being an exception to that law.
Fidelity’s charity uses the Coinbase payment processor to convert bitcoin to dollars. The company raised $7 million in bitcoin in 2016.
Read more at CoinDesk and CNBC.
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