Though currently being relatively few, the number of U.S. top charity organizations that accept bitcoin is on the rise, having reached 12% of the top 100 charities that accepted bitcoin donations during 2019, according to a research carried out by Block’s team.
The research also found that many of those donations are being routed through a popular payment processor, BitPay, while more than 90% of these charities accept bitcoins through third-party payment processors.
Bitcoin and other cryptos have been capitalized on by charities and non-profits, parties who remain one of the early adopters of crypto-donations. Amid a drive for financial inclusion, environment, education, health, human rights, open-source software, democracy, and governance, many charities have now initiated the acceptance of crypto-donations.
For example, Fidelity’s humanitarian arm, Fidelity Charitable, has received over $100 million in crypto-donations since its inception.
Meanwhile, there is a similar trend among billionaires who hold Bitcoin, the latest of which is philanthropist Bill Pulte, who is the head of Pulte Capital Partners and who now wants to promote the benchmark crypto’s adoption.