The Year of Bitcoin continued apace with Fidelity Investments Charitable collecting a whopping 22,000,000 USD in the world’s most popular cryptocurrency. Bitcoiners are known for their generosity, and Fidelity has developed quite a relationship with the ecosystem especially over 2017.
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Fidelity Investments Charitable Breaks Last Year’s Donor Record
Fidelity Takes-In $22 Million in Bitcoin Donations this Year, Half in December“People are getting smarter about donating appreciated assets, and bitcoin is the epitome of appreciated assets this year,” Matt Nash of Fidelity Charitable told CNBC. He’s referring to a remarkable run in donations from its clients this year with regard to the digital asset.
Last year, Fidelity collected a mere 6 million USD in bitcoin. The first 11,000,000 USD of 2017 were donated throughout the bulk of 2017, over roughly eleven months. As the year wound down, the fund saw a doubling of that amount in just December.
The fund doesn’t actually hold bitcoin. Instead it funnels donations through the onboarding of popular crypto exchange Coinbase. Immediately, the decentralized currency is cashed into fiat and placed into specified account for distribution.
Fidelity is best known as a full service broker, offering financial advice, baskets of mutual funds, and even life insurance. It’s a privately held global company with 45 thousand employees and revenues approaching 16 billion.
