Top 10: Giant Nonprofits Growing With Cryptocurrency Donations
There is a radical gulf between the amount of cryptocurrency donated each year to nonprofits and the number of charities equipped to accept these donations. For context, between 2012 and 2017, nonprofits raised $75 million via livestream fundraisers on Twitch. One Bitcoin fundraiser, the Pineapple Fund, donated $55 million alone.
Here are 10 of the largest nonprofits accepting Bitcoin and other cryptocurrency donations:
- Universities (Including Princeton, University of Pennsylvania and MIT — many courtesy of Ripple)
- Silicon Valley Community Foundation (Annual Budget: $5.9 billion)
- American Red Cross (Annual Budget: $3.6 billion)
- American Cancer Society (Annual Budget: $1.6 billion)
- Save the Children (Annual Budget: $830 million)
- UNICEF (Annual Budget: $541 million)
- International Medical Corps (Annual Budget: $131 million)
- Children International (Annual Budget:$125 million)
- No Kid Hungry (Annual Budget: $86 million)
- Team Rubicon (Annual Budget: $78 million)
For those of us in the cryptocurrency community, none of the organizations on this list come as a surprise. Each time a major nonprofit enters into the crypto arena, there is a moment of celebration that is shared by those of us who are still waiting for mainstream acceptance of the technology.
The exhilaration caused by Facebook’s announcement that it would create its own cryptocurrency, libra, was quickly washed away by members of Congress who fear digital currencies may prove to be a little too much competition for the U.S. Dollar and its position as the dominant global reserve currency.
For this reason, among others, as the flow of nonprofits into the crypto ecosystem has ramped up, so, too, has the nonprofit industry’s conversation around it. Moments like last week’s Anne Connelly interview on the Funraise “Nonstop Nonprofit” podcast on cryptocurrency donations stand as testaments to this sea of change. I will dive into more examples like this in future pieces on NonProfit PRO.
Reach out to me if there are particular questions you would like to see covered in these blogs. Thanks for reading!
Pat Duffy, co-founder of The Giving Block, began as a federal consultant for pharmaceutical companies, focused on collaboration with nonprofits. He then shifted to the nonprofit sector, focusing on executive leadership and fundraising for voluntary health associations. Merging his nonprofit experience and passion for Bitcoin trading, The Giving Block was born, creating the turnkey solution for cryptocurrency donations now used by charities around the world.