Independent public charity Fidelity Charitable has received $100 million in cryptocurrency donations, per its recently printed report.

In its “2019 Giving Report,” Fidelity Charitable illustrated account development throughout 2018 and provided insights into its growth since its institution. Generally, the number of donors reached 204,292 in 2018, whereas back in 2009 the corporate had 51,918 accounts.

Eliminating capital gains taxes

When it involves digital currency contributions, Fidelity received $106 million value of cryptocurrency donations since it began accepting cryptocurrency in 2015, which incorporates $30 million in 2018. The report further notes:

“Though cryptocurrency values cooled off significantly by the end of 2018, they began the year at a peak. Fidelity Charitable’s ability to simply accept cryptocurrency donations, together with bitcoin, allowed these donors to eliminate any capital gains taxes and provides the full fair market price to charity.”

In 2017, Fidelity apparently got $69 million — that made it a record year for cryptocurrency donations — though in 2016, the value of crypto gifts added up to exclusively $7 million.

Some other philanthropic organizations around the world have conjointly embraced cryptocurrency donations. Earlier in August, South Korean company SK C&C disclosed plans for a donation platform that's based on a Ripple blockchain fork. Moreover, the platform can support a stablecoin linked at a 1:1 ratio to the won, moreover as a utility token.

A charitable crypto campaign dubbed “Airdrop Venezuela” registered around 60,000 verified beneficiaries and raised $272,000 since its launch in fall 2018.

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