In recent years, cryptocurrency has risen sharply in value, making it a hot commodity among investors and purchasers. In addition to investing in the currency, some want to use it to make donations to organizations they support.
Because cryptocurrency is a relatively new asset class, not every association has the mechanics in place to be able to accept it—but doing so could widen an organization’s donor pool. For this reason and others, the American Heart Association (AHA) recently began accepting cryptocurrency donations to fund its work.
“We have always embraced innovation, and we’ve always been committed to meeting people where they are,” said Paul Kalil, AHA’s executive vice president of mission advancement. “Right now, more and more donors want to give through different vehicles—be it stock donations, gifts of real estate, or gifts of cryptocurrency.”
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