American Cancer Society now accepting Bitcoin donations

The American Cancer Society (ACS), a non-profit organization dedicated to funding cancer research, has started accepting Bitcoin donations through the cryptocurrency payment processor BitPay.

Expanding Donor Base

The American Cancer Society (ACS), headquartered in Atlanta, was established in 1913 and has 12 divisions across the United States with thousands of volunteers. ACS CEO Brant Woodward commented on the partnership:

Cancer affects people from all walks of life, and our mission is urgent. To achieve this goal, we need donors from all over the world.

The report noted that BitPay, founded in 2011, is a bitcoin payment solution company that has processed over $50 million in donations since 2017 with foundations like Tony Hawk and the American Red Cross.

According to BitPay's statistics, the average cryptocurrency donation is around $10,000. CEO Stephen Pair stated:

Charities do not need to hold bitcoin when accepting bitcoin donations. BitPay verifies funds on behalf of the organization and accepts bitcoin, settling transactions in US dollars or the preferred local currency.

ACS CEO Brant Woodward believes that including bitcoin as a donation asset class will broaden the donor base, stating:

ACS primarily relies on grassroots fundraising, especially among the 40 to 50 plus age group. As cryptocurrency is a new financial technology, ACS hopes to attract the attention of younger donors through its partnership with BitPay.

Crypto Asset Donations on the Rise

Brant Woodward emphasized that more and more people are using cryptocurrencies. This allows us to stay connected with younger donors and provide them with frictionless donation opportunities.

Donation cases related to crypto assets are also on the rise. Previously, the Rainforest Foundation US accepted cryptocurrencies and formed alliances to use blockchain technology and crypto assets to save the Brazilian Amazon rainforest.

Previously, the crypto charity organization "Bitcoin Venezuela" funded the Venezuelan people with bitcoin donations, providing food and other essentials to those lacking economic resources.

Further Reading

• Bitcoin to Become a Major DeFi Asset, Decoding the Top 5 Predictions for the 2020 DeFi Market
• Crypto Analyst: Bitcoin Could Reach $100,000, Similar to the Remarkable Surge of Netflix Stock