Bitcoin is by far the world’s most popular cryptocurrency–it’s become a household name for crypto, similar to what Kleenex is for tissues. But did you know that it plays a growing role in the philanthropic space? As mainstream adoption drives up Bitcoin’s value, many of its investors are donating a chunk of their investments to charities and nonprofits, fueling social causes around the world.
When Bitcoin was created in 2009 by Satoshi Nakamoto, only a handful of enthusiasts understood its potential to revolutionize the way people think about and execute financial transactions.
As Nakamoto outlined in an eight-page whitepaper, Bitcoin is a peer-to-peer system for sending payments that was not reliant on a financial institution. Its primary functions depend on two technological concepts that had been in development since the late 20th Century, blockchain and decentralized currency. Neither concept had been fully realized in a practical application until Nakamoto fused them together under the system he would call “Bitcoin.”
In broad terms, the launch of Bitcoin was the big bang that created the entire cryptocurrency universe. Today, the crypto market plays host to countless decentralized currencies that utilize blockchain technology. Sitting atop the heap is Bitcoin, which remains the most valuable cryptocurrency.
Bitcoin Donation Stats
Bitcoin donations to charities and registered nonprofits are increasing rapidly as cryptocurrency becomes more popular and valuable. To date, nonprofits that accept bitcoin donations with The Giving Block’s crypto giving platform have received:
Total value of Bitcoin donated via The Giving Block
Nonprofits who have received portions of this total
Largest single Bitcoin donation received by a The Giving Block nonprofit client