Fidelity Charitable received $106 million in Cryptocurrency donations
Fidelity Charitable has revealed that it received over $100 million in cryptocurrency donations since it started accepting in 2015.
According to the firm’s annual report, it has received a total of $106 million worth of cryptocurrencies.
The figures show that in 2017 it received over $69 million worth of cryptocurrencies and in 2018 it received $30 million. A company representative said:
We see cryptocurrency donations rise along with increases in the value of cryptocurrencies in the marketplace.
Fidelity charitable’ s marketing head, Amy Pirozzolo, noted that as cryptocurrencies are facing a downturn enthusiasts are less likely to hand over their crypto. According to Amy, investors who donate proceeds from investments don’t have to pay capital gains tax on them, and can write them off as donations against the income they have.
Fidelity Charitable just added XRP to the list of cryptos it accepts donations in. They are already accepting BTC, ETH, BCH, and LTC.