Mutual Fund Giant Fidelity Accepts Bitcoin Through Charity Arm
Fidelity Charitable, the public charity arm of US mutual fund giant Fidelity Investments, has announced customers can now use bitcoin to support charities through its donor-advised funds. According to the organization's latest annual report, Fidelity Charitable customers had more than 63,000 donor-advised accounts open as of 2014, with the median giving balance equalling roughly $16,000. In statements, Fidelity Charitable senior vice president Matt Nash sought to emphasize that the move was geared toward maximizing the ways in which its 100,000 donors could engage in philanthropic giving.....
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Fidelity Charitable, the public charity arm of mutual fund giant Fidelity Investments, raised $7m in bitcoin donations last year. The organization launched the donation option in November 2015, enabling contributions from customers by way of their donor-advised funds. Fidelity Charitable has utilized Coinbase as a payment processor to handle bitcoin-to-dollar conversions. New statements from Fidelity Charitable indicate that those efforts have paid off. The organization said today: “To support strategic giving and as part of a broader expansion in November 2015, Fidelity Charitable began....
Mutual fund giant Fidelity has purchased 7.4% of bitcoin mining company Marathon Digital Holdings to be spread across multiple funds.
Fidelity Charitable, an independent public American charity, has announced that it received $7 million in bitcoin donations in 2016 from donors across the country. To enable Fidelity Charitable donors to give more and to support a broader expansion, in November 2015, the charity began accepting bitcoin. Donors were then able to donate more with the non-profit efficiently monetizing the bitcoin for grant-making. As well as accepting digital currency donations, the charity also raised $3.5 billion in donor-recommended grants to non-profit organizations last year, which saw a 15 percent....
Mutual fund Fidelity is denying claims that bitcoin can be used in self-directed IRAs (Individual Retirement Accounts) held through the company. On Wednesday, CNBC and MarketWatch both reported that Fidelity's investors could choose to invest funds in the Bitcoin Investment Trust (BIT). However, Fidelity was quick to deny the reports. Bitcoins for retirement - if you're a Fidelity client you can invest your self directed IRA in the Bitcoin Investment Trust. $25k minimum. - Mary Thompson (@MThompsonCNBC) December 11, 2013. Fidelity responded via twitter that it was not offering bitcoin....
Fidelity Investments CEO Abby Johnson says the mutual fund giant's custody business around bitcoin has been "incredibly successful" and has a "tremendous pipeline."