$100 million in crypto donations for Fidelity Charitable
$100 million in crypto donations for Fidelity Charitable

$100 million in crypto donations for Fidelity Charitable

By Amelia Tomasicchio - 19 Aug 2019

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Fidelity Charitable, the company’s charity department, has published a report in which it claims to have received over $100 million in crypto as donations.

To be precise, the figure is $106 million in crypto received as donations from 2015 until now, as revealed in the annual document published a few weeks ago.

In general, it is not only crypto donations that have risen: Charitable had 204,292 donors in 2018 alone, a number that has doubled in less than 10 years, given that in 2009 it had 51,918.

Fidelity Charitable has been accepting cryptocurrency donations since 2015.

“We see cryptocurrency donations rise along with increases in the value of cryptocurrencies in the marketplace,” explained a Fidelity spokesperson.

According to the report, investors who decide to make donations do not have to pay any tax on capital gains, which would make it very attractive and for this reason, Fidelity would encourage customers to donate first the asset that is most devalued.

“The majority of our contributions to date have been bitcoin, however we have also seen growing numbers of donations in ethereum,” said Fidelity Charitable, but they also accept donations in Bitcoin Cash, Litecoin and XRP.

crypto donations fidelity charitable

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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