Bitcoin Users Donated $22 Million Worth to Fidelity Charitable in 2017

Announcements, News | December 19, 2017 By:

Fidelity Charitable, a donor fund connected to mutual fund investment company Fidelity Investments, has announced that bitcoin users have given $22 million of the cryptocurrency to the fund so far in 2017.

Fidelity Charitable started accepting bitcoin donations in November, 2015 to give donors the chance to monetize bitcoin for grant-making. In 2016, the organization raised a total of $7 million in bitcoin throughout the year. Fidelity said donations in bitcoin, in 2017 through November, represent about $11 million, a figure that has doubled since the start of December.

“This is giving season, after all, starting in late November and running through Dec. 31,” said Matt Nash, senior vice president of donor engagement at Fidelity Charitable. “People are getting smarter about donating appreciated assets, and bitcoin is the epitome of appreciated assets this year.”

Fidelity Charitable is accepting bitcoin donations until December 22. To donate bitcoin, investors must call to set up an account. Bitcoin funds are then sent to Fidelity Charitable via bitcoin exchange Coinbase, where they are converted into fiat currency and deposited into the customer’s account.