In 2021, the market cap of cryptocurrencies grew to a total worth of $3 trillion. Americans are the most generous people in the world — giving away 1.4% of their annual GDP. And crypto owners are even more generous. Nearly half of them donated over $1,000 to charity in 2020 (compared to only a third of all investors) and one in three have donated crypto assets to charity.
Crypto is only getting more popular as a giving vehicle, as younger, charitable generations invest in this new asset class and learn about the tax savings they can see by donating crypto over cash.
Yet, very few nonprofits accept crypto, and those that do often have a cumbersome process for the donor. And many fundraisers are still struggling to understand what crypto is, what it means for philanthropy, and how to secure these gifts.
Watch Patrick Schmitt, the Co-CEO of FreeWill, to learn what crypto is, the trends and changes impacting crypto giving, and how nonprofits can fundraise and accept crypto donations.