Fidelity's charity arm has received $100M in crypto donations

posted 12 months ago
Fidelity’s charity arm, Fidelity Charitable, said it received more than $100 million in cryptocurrency donations since 2015. A company representative said “We see cryptocurrency donations rise along with increases in the value of cryptocurrencies in the marketplace.” It's worth noting, investors who donate their proceeds do not have to pay capital gains on them and can write donations off against their income tax.

Fidelity Charitable marketing head Amy Pirozzolo said the firm even “encourages” clients to “give their most depreciated assets first… because it provides the best tax advantages for the donor and charity.” The firm is “trying to keep its finger on the pulse” of the crypto market and “the majority of our contributions to date have been Bitcoin…” Fidelity Charitable also accepts Litecoin. Pirozzolo said most of the charitable giving happens in the 2nd half of the year.
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