„BitcoinTuesday will be one of the largest cryptomoney donation events in history
BitcoinTuesday aligns knowledge of cryptomonies with the public good in this one-day charity event.
BitcoinTuesday, scheduled for December 1, aims to become one of the largest cryptomoney fundraisers in history.
The Giving Block, a crypto-donation company, has secured partnerships with more than 120 non-profit organisations and 30 blockchain companies to lead BitcoinTuesday – a one-day event that promotes charitable donations through cryptomonies.
Some of the biggest names in the crypto space will be participating in the event, including Cointelegraph, Gemini, Ledger and Blockfolio. Along with dozens of other blockchain companies, they are stepping up to help more than 100 charities collect Bitcoin (BTC) and other cryptomoney donations before the holiday.
BitcoinTuesday will feature several fundraising trivia events, where HODLers can test their knowledge of the cryptomoney and blockchain industry. Users are also encouraged to create their own fundraising events, such as live broadcasts or poker tournaments, to support their favourite charity.
The Giving Block tells Cointelegraph that BitcoinTuesday 2020 will see „a 1,000% growth in nonprofits accepting donations of crypto currencies. Organizations such as Save the Children, No Kid Hungry, and The American Cancer Society are just some of the charities that will participate in this year’s event.
According to The Giving Block:
„All of our charities accept more than just Bitcoin. Bitcoin is front and centre, but you can donate all of the cryptosystems currently supported by Gemini.“
A similar event last year successfully involved a dozen charities. BitcoinTuesday 2020 is an order of magnitude larger, indicating a clear shift in the way nonprofits view digital assets.
With hundreds of billions of dollars flowing into the crypto market this year, digital assets offer new fundraising options for charities. The Giving Block tells Cointelegraph that the adoption of cryptomoney has a positive impact on donations as holders seek to offset capital gains taxes through charitable contributions.
They also believe that non-profit organisations themselves can assist in the adoption of cryptomonies by offering users the opportunity to donate through digital assets:
„Non-profits add crypto as an option on their website and platforms, request crypto gifts in their communications, post about cryptomonies on social networks. This brings their core audiences to the crypto scene, which is invaluable.“
Of course, charitable donations are nothing new to the crypto community. In December 2017, an anonymous Bitcoin Formula charity called the Pineapple Fund gave away 5,057 BTC to 60 charities. The Giving Block aims to replicate the success of the Pineapple Fund and lay the foundations for an even greater charity campaign in the years to come. Although there is no set target for how much BitcoinTuesday can raise, The Giving Block says, „We believe that raising millions is perfectly reasonable.
„It will depend on who steps up and does something about it!“
Non-profit charities can participate in BitcoinTuesday by applying directly through The Giving Block. Other companies can participate in the event by becoming a sponsor or promotional partner.
If you are a donor interested in making a large donation of cryptomoney, please contact The Giving Block to facilitate a conversation between you and the charity of your choice.