Crypto donations to charity skyrocket. Here’s why it can be beneficial
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There’s soaring interest in donating cryptocurrency to charity as digital currency investors seek to maximize their tax break and impact.
“A lot of folks have begun to realize that crypto giving is hugely beneficial,” said Kyle Casserino, vice president and charitable planning consultant for Fidelity Charitable, a public charity that accepts bitcoin, ethereum and litecoin.
Bitcoin donations have surged amid the latest rally as investors learn about the tax benefits, according to Casserino.
For 2024, Fidelity Charitable has accepted $688 million in crypto donations through Nov. 19. That’s up from $49…