The Glenrose Rehabilitation Hospital Foundation (GRHF), an Alberta-based healthcare foundation, has started accepting donations in dozens of cryptocurrencies including Bitcoin ($BTC), Ethereum ($ETH), and even meme-inspired cryptocurrency Shiba Inu ($SHIB).
The move, according to local news outlet Global News, came through a partnership with charitable cryptocurrency organization The Giving Block, which allows the GRHF to receive cryptocurrency donations from donors.
The funds, once sent to GRHF, are converted to fiat currency that It is accustomed to use. In a release, the healthcare foundation noted that cryptocurrency donations allow it to access a new group of donors in Alberta. Mark Korthuis, president and CEO of the organization, said:
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By accepting cryptocurrency donations, we’re going to open new pathways to fund innovative health technologies that will make a real difference for patients recovering from injury or living with chronic conditions.
The GRHF is reportedly still dealing with the impact the COVID-19 pandemic has had on its revenue streams, and sees cryptocurrency donations as a potential new income stream. The Giving Block, it’s worth noting, is a regulated charity with a regulated trust.
As CryptoGlobe reported Quincy University, a private Franciscan university based in Illinois, has announced that it has started accepting donations in cryptocurrencies, including the meme-inspired tokens Dogecoin ($DOGE) and its rival Shiba Inu ($SHIB).
In an announcement, the university noted that as a 501(c)(3) charity it will receive the full value of contributions and that these cryptocurrency donations are tax-deductible. Tax-deductible donations can’t, however, be anonymous as donors will “need to provide their name, address and email for the gift to be tax-deductible.”
Notably, cryptocurrency donations with Fidelity charitable, the largest grant-maker in the United States, rose over 1,000% last year. The organization received $331 million in cryptoassets through donor-advised funds, up from $28 million it received in 2020.
The early DOGE community was well-known for taking on philanthropic projects. It made headlines in 2014 after raising more than $25,000 worth of DOGE to let the Jamaican bobsleigh team attend the Winter Olympics in Sochi.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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