Over $100 Million in Crypto Donations to Fidelity’s Charity
“We see cryptocurrency donations rise along with increases in the value of cryptocurrencies in the marketplace,” said a company representative.
Amy Pirozzolo marketing head of Fidelity Charitable said that offloading of crypto has decreased as it is facing a down road. Due to which people who used to offload them as charitable assets has also decreased. This decrease is mainly caused by the diminishing value of tax deductions provided to the donors for their charity.
Pirozollo also talked about the working of the company. In which she told about “give their most depreciated assets first” concept. They encourage them (donors) to invest such items so that they can receive the best tax advantages.
Pirozollo added on by saying, “One thing we’re committed to being helping donors choose the most tax-efficient asset to give to charity,”
“The majority of our contributions to date have been bitcoin, however we have also seen growing numbers of donations in ethereum.” said company’s representative.
This report also showcased that the company accepts assets in the form of bitcoin and litecoin.
Fidelity Charitable also announced about its acceptance of the digital asset XRP Back in May, and Fidelity stated on Twitter that it would take donations in XRP.