Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
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Giving block reports, Crypto philanthropy jumped nearly 16x in 2021
Cointelegraph | Prashant Jha | Feb 3, 2022
The average crypto donation size was $10,455, 82x more than an average $128 cash donation.
2021 was not just the year of institutionalization of crypto and new all-time highs — it also turned out to be the biggest year to date for crypto philanthropy.
According to research data from The Giving Block, the crypto donation volume rose to $69.6 million in 2021 compared to $4.2 million in 2020. Crypto donation volume spiked 1,558% or nearly 16x over the same period. The average crypto donations also saw a 236% increase, rising from an average of $3,109 in 2020 to $10,445 in 2021.
The data further revealed that the average crypto donation size was 82x larger than the average cash donation. The average donation in crypto was estimated at $10,455 compared to $128 in cash.
See: The risk of not participating in crypto is now outweighing the risk of non-participation
The monthly donation data revealed several interesting aspects about crypto donors. The report highlighted that the crypto donations were highest in the final four months of 2021. The donations volume also peaked with each month, where January saw a total volume of $300,000, while December’s total donation volume surpassed $20,000,000. 42% of the total crypto donations in 2021 came in the last two months.
The research attributed this increase to the bull market and the growing adoption of digital assets among the common public as well as nonprofit organizations. The research report revealed more than 1,000 nonprofit organizations were accepting crypto donations by the end of 2021.
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