Bitcoin Donations Now Accepted At Fidelity Charitable

Fidelity Charitable, the charitable arm of Fidelity Investments, is now accepting bitcoin from donors, thereby expanding the existing range of assets donors can contribute.

“As more people have been using and investing in digital capital and things like bitcoin, it became more likely people would want to use their digital wallets,” Matt Nash, Fidelity Charitable’s senior vice president of donor engagement told Boston Herald. “We have a mission to make giving simple and effective.”

The majority of contributions to the organisation are made in capital assets including publicly-traded securities, private business shares and real estate. However, many nonprofits find these costly, time-consuming or even nearly impossible to accept.

“Enabling donors to contribute bitcoin to their donor-advised funds is the latest example of Fidelity Charitable’s commitment to making it as easy as possible for donors to support the charities they care about with the assets at their disposal,” Nash said.

To accept bitcoin donations, Fidelity Charitable uses Coinbase’s conversion service to convert bitcoin and the proceeds of the conversion will be allocated to the individual’s donor-advised fund at Fidelity Charitable.

Established in 1991, Fidelity Charitable is an independent public charity that has helped donors support over 210,000 nonprofit organizations with more than $20 billion in grants.