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Fidelity Charitable Has Raised $9 Million in Bitcoin So Far in 2017

Fidelity Charitable has announced it has raised nearly $9m in bitcoin in 2017, a figure that already surpasses last year's total.

Jun 29, 2017 at 2:35 p.m. UTC
Updated Sep 11, 2021 at 1:29 p.m. UTC

Fidelity Charitable, the donor fund connected to mutual fund giant Fidelity Investments, raised nearly $9m in bitcoin during the first half of this year, according to its annual report.

After raising $7m in bitcoin during 2016, Fidelity Charitable recently experienced a marked uptick in donations, bagging roughly $2m more than that figure in the last six months alone. The annual report further revealed that "nearly $2bn" has been committed by all funding methods since the start of the year.

"This is more money given to charities over the first half of the year than ever before in the organization’s 26-year history," the organization said in the report.

The disclosure comes weeks after Fidelity's CEO took the stage at CoinDesk's Consensus 2017 blockchain conference to discuss the firm's deep interest in the technology, particularly in public blockchains and cryptocurrencies.

Fidelity's charity effort first began accepting bitcoin in late 2015, pitching the concept as a way to expand the possible donor pool by opening up to less traditional assets.

Donations jar image via Shutterstock

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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