To say we’re in a cryptocurrency bull market is an understatement. According to Financial Express, the crypto market cap has doubled in the last three months from $1.15 trillion in February to $2.3 trillion today. Yes, that’s trillion with a “T”.
Along with the tremendous growth in value for various cryptocurrencies, we’ve also seen growth in generosity from the community. Cointelegraph recently reported the launch of the the “Crypto Giving Pledge”, an initiative by donation platform, The Giving Block, that encourages digital asset investors to pledge at least 1% of their holdings to charities each year. With nonprofits like United Way accepting cryptocurrency, there are great tax benefits for donors. Google Trends also shows that interest in donating crypto continues to rise and fall like the market itself.
With that in mind, we wanted to explore the impact a donor could make if they donated the equivalent of a $100 investment on January 1 for three popular currencies: Bitcoin, Ethereum, and Dogecoin. Below you’ll see the rocket ship-like returns for these three currencies and what that $100 initial investment would accomplish as a donation to United Way.
Bitcoin: $195 (95% growth)
If you bought $100 in Bitcoin on January 1st, you can make a donation twice as big as your initial investment. At almost $200, United Way could provide 9 hygiene kits to protect frontline health workers in India.
Right now, India is facing a devastating second wave of COVID-19 and frontline healthcare workers are working tirelessly to stop the spread of the disease. United Way India is on the ground supporting over 100 hospitals and frontline health workers with critical medical equipment and supplies. With your donation, United Way can equip frontline healthcare workers with N95 masks, sanitizer, thermometers, pulse oximeters and more.
Ethereum: $469 (369% growth)
Next up, a $100 bet on Ether would clock in just shy of $500, which could provide 563 meals to food insecure Americans who lack access to transportation.
41 million Americans worry about where their next meal will come from. And due to COVID-19, that number can rise to more than 50 million, which includes 17 million children. United Way has teamed up with Door Dash to deliver food pantry boxes and meals to Americans experiencing hunger and don't have transportation to make it to a food bank. To date, Ride United: Last Mile delivery has provided 370,000 deliveries to over 16,000 households in 220 cities and towns.
Dogecoin: $12,105 (12,000% growth)
Finally, if you invested $100 in the shiba-inu themed dogecoin, you would be sitting on over $12,000. Talk about gains! A gift of DOGE that size can help United Way eliminate social isolation for 35 seniors and refugees.
Seniors were hit the hardest by the pandemic due to strict COVID-19 guidelines and felt amplified levels of isolation. United Way Netherlands is helping overcome loneliness by providing tablets and training to foster meaningful connections between seniors and refugees so they can regularly connect through video calls. The added benefit of this innovative program: refugees get to practice their Dutch and can immerse themselves in the culture.
If you were smart enough to get into the market on January 1 or before, congratulations! We hope you’ll consider donating to support the innovative programs at United Way. No matter what currency you use, crypto or fiat, your generous contribution will enable us to keep fighting for the health, education and financial stability of every person in your community and around the world.
Learn more about United Way's work here.