• The non-profit sector has seen continued success due to the expansion of crypto payments.
• Crypto donations have already generated results, reaching a record level of $125 million in 2022.
• According to The Giving Block’s projections, crypto donations could exceed $10 billion by 2032.
Crypto Philanthropy on the Rise
The non-profit sector has emerged as one of the leading industries in crypto adoption. Crypto payments have opened new avenues for donors, enabling organizations of different shapes and sizes to achieve success. In 2022, the total amount of cryptocurrency donations surpassed $125 million according to prominent charity platform ‘The Giving Block’.
Predictions for Crypto Donations
The Giving Block’s annual report titled “Crypto Philanthropy Data, Trends & Predictions” revealed that it expects cryptocurrency donations to reach a whopping $10 billion by 2032. Taking into account Bitcoin’s price trajectory and the increasing trend in donations, it is predicted that crypto donations could reach $1 billion by August 2027, hit $5 billion in June 2031 and surpass the $10 billion mark in November 2032.
Crypto for COVID Relief
Cryptocurrency donations have proven their worth since the start of the COVID pandemic and gained further traction during the Russian invasion of Ukraine. Despite turbulence in the crypto market last year, 2021 was still one of The Giving Block’s best fundraising years ever.
Benefits for Non-profits
The growth and expansion of cryptocurrency options for philanthropic causes has opened up a wealth opportunities for non-profits around the world. This emerging landscape offers unprecedented convenience and access when it comes to donation methods while providing donors with transparency over how their contributions are utilized by charities they support.
Cryptocurrency has revolutionized philanthropy with its transparent nature offering many benefits both to donors and non-profits alike. With its continuous growth expected over time, we can expect an even greater impact from crypto donations going forward into next decade and beyond!