10 Days of Cryptocurrency Donations – #2: Silicon Valley Foundation Held Billions in Crypto
The Silicon Valley Community Foundation may have held as much as $4.5 billion worth of cryptocurrency at the end of 2017, which would be about one-third of their investment portfolio, according to the San Francisco Chronicle. The Foundation is currently the largest community foundation and 9th largest public charity. Much of their growth has been fueled by Silicon Valley leaders donating alternative assets like equities, and now cryptocurrency. Although the value of their cryptocurrency holdings have since declined, we expect this to be an increasingly common form of giving. For most nonprofits, converting to USD immediately is the best option to avoid any volatility risk. We’ve made this easy for nonprofits by creating an “auto-convert” feature in our software.
You can view our list of over 100 nonprofits that accept bitcoin and other cryptocurrency donations here.