Fidelity Charitable: Investors Want to Use Bitcoin to Do Good

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Fidelity Charitable became the latest major US charity to accept bitcoin this November when it added the digital currency as an eligible asset for its donor-advised accounts.

With the move, Fidelity Charitable joins an expanding list of nonprofits that have opted to accept bitcoin donations, including American Red Cross, Greenpeace USA, Save the Children and United Way, among others. Like these organizations, Fidelity reports that customer acceptance and interest in the idea were the motivating factors behind the move.

In interview, Fidelity Charitable senior vice president Matt Nash affirmed that the organization has a vested interest in listening to its customers and making its offerings as “broad” as possible.

Nash told CoinDesk:

“What we’re finding is that for more Americans, as more people use and invest in digital currencies, they’ll tap those resources to do good. We had had some inquiries from some advisors and we looked into it.”

Nash was unable to provide statistics on how many users had so far taken advantage of the offering, but did state that last year’s decision by the US Internal Revenue Service (IRS) to classify bitcoin as property proved pivotal to the move.

“We take in a lot

Read more ... source: TheBitcoinNews