Cryptocurrency and the investment landscape around the digital asset world, in general, is a contentious topic. Many people use cryptocurrency investments to increase their own personal wealth. Thus entering into a completely free and decentralized mode of personal finance management. This is appealing of course. But many financial experts criticise the crypto world. They say that investors do not give back enough and the market is only a vehicle for personal money matter expansion.
What many of these experts don’t realise is that many holders of large sums of crypto, whether that be Bitcoin, Dogecoin, Ethereum, or XRP, are using their digital assets to incite a lot of good change throughout the world. They’re doing this by making what they call “crypto donations”.
Just like any other form of money, whether it’s fiat or not, cryptocurrencies have an intrinsic value to them. The dictations of the digital asset market assign this value. But that does not take away from the fact that owning Bitcoin or similar can bring you a lot of tangible wealth. This value means that cryptocurrencies, like any other currency, can get donated to make a material impact on the lives of those who need assistance.
But you may be asking yourself – what use does a charitable organisation have for a digital currency that they cannot use to buy anything tangible? Well, one point that you need to realise, should you want to donate cryptocurrency to an organisation that accepts it, is that once you donate your crypto, you’re parting ways with it.
Many of the organisations now accepting cryptocurrency donations often sell the digital assets or tokens as soon as they receive them. They do this so they can exchange them for “real” money. Charities will take the value of the crypto at the moment they receive it. Instead of allowing it to grow through some form of long-term investment strategy. In short, a cryptocurrency donation is just a way to give money back. It’s much the same as any other type of donation.
Finance experts and those working in philanthropy and charity have a big enough sample size to base forecasts on. Now, many of these experts agree that cryptocurrency donations will be the donations of the future.
The biggest philanthropists in the world are those in the top 1% of wealth. Here we’re talking about billionaires like Elon Musk and Jeff Bezos. These are two entrepreneurs who believe in the future of digital assets. Experts predict that current trends point towards there being over $10 billion in crypto donations over the next decade. This bodes well for charities that accept crypto. And perhaps, encourages others that don’t to rethink their stance and the value of these charitable gifts.
