By Nathan Ferguson
According to The Giving Block, many non-profit charity organizations have started to accept cryptocurrency-based donations without any hesitations in mind.
Cryptocurrency donation drivers, The Giving Block gave a more open view about charity organizations, saying that majority of these organizations have started to welcome cryptocurrency donations in a much more delightful way than before.
Lost Opportunity
Many charity organizations have been quite open to receiving cryptocurrency donations before as well. An example of that would be the United Way Worldwide, operating in Alexandria, Virginia, which is a non-profit charity organization that has welcomed cryptocurrency payments since the year of 2014. The Vice President of the United Way Worldwide, Edwin Goutier, stated that the organization had around 70,000 Bitcoin in its pocket back at that time but then decided to exchange all of it.
In a slightly regretful tone, Edwin Goutier stated that they had no idea that Bitcoin would reach this kind of insane valuation, so even if they had held half of that Bitcoin instead of cashing out, they would have unimaginable amounts of money for future investments.
However, with the sort of rules and challenges that non-profit firms must face, they are forced to leverage the funds in that certain timespan. Goutier also had positive remarks about the Giving Block and thinks that they know what they are doing and “understand both sides of the market”.
About the Giving Block
The Giving Block first came into the world in 2018, introduced by its founders, Alex Wilson and Pat Duffy. The Giving Block works to help various non-profit organizations in order to take maximum advantage of the generous amounts of donations coming from rich traders and investors in the crypto space who are willing to help the needy.
Pandemic Hitting Hard
Alex Wilson stated that with the COVID-19 Pandemic hindering many charity efforts and events, many charity organizations have started to welcome cryptocurrency donations in a more open manner. The Giving Block has had phenomenal support throughout these past few years, and Alex Wilson hopes that more huge donations in crypto are to be expected in the future because these donations have become the main reason why many charity organizations are still working to provide for the ones that in need.