$9 Million in Bitcoin has been raised by Fidelity Charitable in first half of 2017
US’s second largest charitable fund, Fidelity Charitable (associated to Fidelity Investments) announced in its 2017 Giving Report that the foundation has raised over USD 2 billion dollars in the first half of 2017, USD 9 million of which is in bitcoin.
This is a record breaking figure in Fidelity Charitable’s 26 years of history.
Fidelity Charitable raised USD7 million in 2016.
Since accepting bitcoin in 2015, the foundation has attracted more donors to donate non-traditional assets. The organization attributes this to their “expertise in donations of non-publicly traded assets and has seen notable growth in these types of contributions in recent years.”
“Non-publicly traded assets represent a significant portion of wealth in the United States but have traditionally been a largely untapped source of philanthropic funding”, the report states, and “[d]onors increasingly fund their giving with a variety of non-publicly traded assets.”