Fidelity Charitable Fund received $9 million in Bitcoin in half a year, and cryptocurrency donations have become a new trend

Since 2017, the value of Bitcoin has been steadily increasing as more and more people have started using the decentralized currency. Although prices are still volatile, Bitcoin has begun to send clear signals that it is becoming more popular as a payment method.

In fact, Bitcoin has performed extremely well since the beginning of this year, with a price increase of 140%. Bitcoin is becoming increasingly popular among people from all walks of life, even in the charity sector.

One of the best use cases for Bitcoin is charitable donations, and its use in this area is expanding. According to a recent report from Fidelity Charitable Foundation in 2017, the amount of Bitcoin donations received by the organization has increased significantly. The organization said that the report "shows nearly 150,000 donors and how they donated."

Bitcoin Donation

According to Babbitt, Abigail Johnson, CEO of Fidelity Investments, has publicly expressed her love for Bitcoin. The company announced a detailed plan to integrate Coinbase accounts. Johnson also revealed that Fidelity's internal restaurant accepts cryptocurrencies to purchase food and drinks. Now, the company has released the annual report of the Fidelity Charitable Fund, detailing the gradual increase in Bitcoin charitable donations.

Fidelity's 26-page report details how many people prefer to use non-publicly traded assets, and Bitcoin is a popular way to donate. In the first half of 2017, Fidelity Charitable received $9 million worth of Bitcoin, a figure that far exceeds the $2 million (in Bitcoin) the organization received in 2016. The organization also resold $3.1 billion worth of non-publicly traded assets, including real estate, life insurance policies, and even food. Since 2015, the digital asset Bitcoin has become a channel for receiving donations to Fidelity Charitable funds.