Bitcoin Giving Tuesday: Transactions Hit Record Numbers, With Many to Charities

Tipping Tuesdays have increased awareness and recognition of Bitcoin since a Reddit user proposed starting them last month. Now the Bitcoin Giving Tuesday event has mobilized an even greater concentration of Bitcoin spending activity, breaking records and raising money for a number of charities.

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Bitcoin Giving Tuesday: Transactions Hit Record Numbers, With Many to Charities

Tipping Tuesdays have increased awareness and recognition of Bitcoin since a Reddit user proposed starting them last month. Now the Bitcoin Giving Tuesday event has mobilized an even greater concentration of Bitcoin spending activity, breaking records and raising money for a number of charities.

At 10:30 a.m. EST, on-blockchain transactions surpassed the 103,000 mark, an all-time high for Bitcoin. The previous high-water mark reached just above 102,000 transactions, which the network hit during last year’s price bubble. 

Bitcoin Giving Tuesday continues the strong retail-sales days we saw over the past weekend on Black Friday and Cyber Monday. Some of Tuesday’s primary organizers, promoters and participants include: The BitGive Foundation, Bitcoin Foundation, BitPay, Bitcoin Black Friday, Circle and ChangeTip.

Today’s event encourages the Bitcoin community to give microdonations to organizations that accept Bitcoin. Any amount is welcomed, and Bitcoin Giving Tuesday organizers emphasize that Bitcoin ensures donations will go right to the recipient organization, rather than to an intermediary processor that would take a portion of the money off the top.                                                                

“People are now empowered to give as little as $0.01 and see 100% go toward their cause,” BitGive Foundation Director Connie Gallippi said in a statement.

“Many donors don’t know that charities are charged a transaction cost for each deposit into their bank account. If a transaction fee is $0.25, then a $1 donation will equate to a 25% loss.”  

Below are a few organizations accepting Bitcoin donations:

You can keep up with today’s events via social media by following the hashtag #BitcoinGivingTuesday (here’s the Twitter search) and by following the main thread at /r/Bitcoin.


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