Fidelity’s Charity Arm Raised $7M in Bitcoin Donations in 2016

Fidelity Charitable, the public charity arm of mutual fund giant Fidelity Investments, raised $7 million in bitcoin donations last year.

The organization launched the donation option in November 2015, enabling contributions from customers by way of their donor-advised funds. Fidelity Charitable has utilized Coinbase as a payment processor to handle bitcoin-to-dollar conversions.

New statements from Fidelity Charitable indicate that those efforts have paid off.

The organization said today:

"To support strategic giving and as part of a broader expansion in November 2015, Fidelity Charitable began accepting bitcoin, resulting in an unprecedented $7 million in contributions in 2016 made from donors across the country. These donors were able to maximize their contributions with Fidelity Charitable efficiently monetizing the bitcoin for grant-making.”