CHARITIES SEE MORE CRYPTO DONATIONS. WHO IS BENEFITING?

As the biggest cryptocurrencies flirt with record high values, they’re increasingly becoming bigger sources of revenue for charities.

- 

However, the number of charities accepting the virtual currencies, known for their volatility, remains limited.

Bitcoin, the world’s largest cryptocurrency, hit nearly $69,000 for the first time in its history, roaring back after sinking below $30,000 during the summer. The value of ethereum, the second-biggest cryptocurrency, also hit a record high.

Both cryptocurrencies have dropped from their record levels after helping push the overall market cap of cryptocurrencies past $3 trillion, according to CoinGecko pricing. CoinMarketCap, another popular measure, listed the market cap at $2.8 trillion.

So far this year, Fidelity Charitable, the nation’s largest grantmaker, has received more than $274 million in cryptocurrency contributions — nearly quadruple its prior record of $69 million in 2017, according to a company spokesperson. And the cryptocurrency donation platform Engiven said last month it accepted what it called the largest single Bitcoin donation known to date: a $10 million Bitcoin gift to an undisclosed faith-based organization.