Bitcoin donations to charity are on the rise

But a pattern is also visible: the amount of donations to state funds is an order of magnitude lower than to non-state funds. This speaks, first of all, about the growing distrust of people in government agencies, even those that declare the best goals.

The Red Cross has been accepting donations in Bitcoin since 2014, but bitcoin donations to this organization are rare and small, for example, this year the Red Cross received only $2,000 in BTC.

While Fidelity Charitable, the second largest non-governmental charitable foundation in the United States, receives significant amounts in cryptocurrency. This year, Fidelity Charitable received the equivalent of $13.5 million in Bitcoin donations, almost 7 million more than in all of 2016.

Cryptocurrency donations are preferred over dollar donations for many people for three reasons: cryptocurrency donations are less burdensome for the donor, they are completely anonymous, and donors can see exactly where the donations will go. That is, the factor of the fund’s unscrupulousness has been almost completely neutralized.

There is one more point that deserves special attention. Bitcoin is unstable. And this is its advantage. If dollars, euros, hryvnia, rubles are constantly becoming cheaper, then Bitcoin is becoming more expensive. Therefore, he gives people a chance for salvation. If you imagine that you need to raise 80 thousand dollars for a kidney transplant or 120 thousand euros for a new liver, then Bitcoin can save you. Big money requires long terms. If you collect and set aside 30 thousand dollars today, then if the price of Bitcoin rises 3 times, your life will be saved.

In many countries, charity is very limited. For example, it is prohibited to engage in charity as a business (that is, to receive income from charitable contributions for those in need). Therefore, it often happens that people die without waiting for help. Not all volunteers can live for others 24 hours a day. Others do charity work only a couple of hours a day or even a week. This sad situation has developed due to government bans and restrictions. If charity were a business, volunteers could receive good money for their activities.

And then Bitcoin appears! It is prohibited in a number of countries, as is entrepreneurial activity for charity. But since Bitcoin is immaterial, it cannot be counterfeited, liquidated or destroyed. New opportunities are opening up for entrepreneurs and their charities.. Why collect 80 thousand if 8 thousand will be enough? Yes, there is a risk that Bitcoin will start to fall in price, but there is even less chance that fiat money will ever rise in price. Today, a charitable foundation collected part of the money in Bitcoin and continues to collect in fiat, and tomorrow Bitcoin has risen in price and this saved someone’s life.

Thanks to Bitcoin, charity business will also become very difficult to ban or limit. And this suggests that more and more people, private organizations and foundations will be able to escape government prohibitions and controls.

According to https://freedman.club