A U.S.-based children’s charity has created a bitcoin superhero to help boost its fundraising profile.
The Songs of Love Foundation, which became one of the first national children’s charities to accept cryptocurrency donations in 2013, is a nonprofit that creates personalized songs to uplift children facing tough medical conditions or emotional challenges.
Launched Friday, the “Billy Bitcoin” superhero is part of the charity’s efforts to increase donations through cryptocurrency, which it said on its website is “even more efficient than donating cash.”
Crypto donations to charities are not taxed in most jurisdictions around the world. In the U.S., a person does not owe capital gains tax on the appreciated amount and can deduct his or her donation.
“This win-win solution means you have more money available to donate to charity and can deduct more on your tax return,” the charity’s website reads. “The difference can amount to more than 30%.”
Songs of Love accepts donations in 22 cryptocurrencies, from algorand to zcash.
On Feb. 16, the foundation will celebrate its 25th annivesary. Since its inception, the charity has created “songs of love” for more than 36,000 children worldwide.