Fidelity Charitable, the donation arm of mutual fund big Fidelity Investments, raised practically $9m in bitcoin through the first half of this 12 months, in line with its annual report.
After raising $7m in bitcoin throughout 2016, Fidelity Charitable just lately skilled a marked uptick in donations, bagging roughly $2m greater than that determine in the final six months alone. The annual report additional revealed that “nearly $2bn” has been dedicated by all funding strategies because the begin of the 12 months.
“This is more money given to charities over the first half of the year than ever before in the organization’s 26-year history,” the group stated in the report.
The disclosure comes weeks after Fidelity’s CEO took the stage at CoinDesk’s Consensus 2017 blockchain convention to debate the agency’s deep curiosity in the expertise, significantly in public blockchains and cryptocurrencies.
Fidelity’s charity effort first began accepting bitcoin in late 2015, pitching the idea as a method to develop the attainable donor pool by opening up to much less conventional property.
Donations jar picture by way of Shutterstock
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