Fidelity Charitable 2017, a $16-bln-donor-advised philanthropic fund, has recently announced that their Bitcoin donations are soaring high. The donations grew about $9 mln in the first half of the year as stated in the release of their 2017 Giving Report.
Bitcoin and fidelity charitable
Despite constant price volatility, increase in the usage of Bitcoin as payment method sends a clear message that it’s just on its way to critical mass adoption.
In fact, they have been performing at their best since the beginning of the year with cryptocurrency reaching up to 140 percent. Bitcoin continues to be popular among most people and even among those who are charitable.
One of the beneficiaries of Bitcoin donations is Fidelity Charitable. A media representative at Fidelity Charitable said at the joint collaborations between Fidelity Charitable and Fidelity Labs that their donors to have been able to give Bitcoin donations since 2015.
In 2017, reports stated that their funds are on the rise, receiving $2 mln more than what Bitcoin donors gave in the whole 2016.
Increase in charitable trends
According to the organization, the report is a "snapshot of their nearly 150,000 donors and how they give." They have seen many donors increasingly fund their giving in a variety of ways, including non-publicly traded assets.
What was once an untapped source of philanthropic giving is now one of the charitable trends. This is because non-publicly traded assets are a significant portion of wealth the US.
Fidelity Charitable has handled this kind of donations, witnessing its notable growth of these methods of charitable giving for the past years.
From $391 mln of non-publicly traded assets in 2012, the donations rose up to $796 mln as per their record last year. $125 mln of it is in restricted stock and $7 mln of it in Bitcoin.