Engiven, Inc., a leading cryptocurrency donation platform, is delighted to announce that it has facilitated a $10 million Bitcoin donation, one of the largest singular Bitcoin donations publicly known to date. Engiven is a financial technology leader in the space, providing an enterprise crypto donation management solution for nonprofits of all sizes.
“A donation of this size marks an important stage in the evolution of Bitcoin as an asset and as a charitable tool. Cryptocurrency is rapidly becoming a major influence and impact to the nonprofit world, and Engiven stands at the forefront of innovative ways to help facilitate crypto donations. We couldn’t be more pleased to see such a positive impact come from our platform, and we are confident this is only the beginning,” said James Lawrence, Cofounder and CEO of Engiven.
This landmark donation will support the program growth for one of Engiven’s ministry clients and is the largest known Bitcoin donation given to date. The donor started mining Bitcoin on his laptop more than 10 years ago and has been holding all this time. He intends to make other major Bitcoin donations in the future as well.
Engiven expects the strong growth in crypto giving to continue into the year-end. By the end of Q4-2021, Engiven projects to directly serve more than 1,000 nonprofit clients, including some of the largest and most respected in the United States, such as The Salvation Army, Compassion International, March of Dimes, the Navy Seals Foundation and US Figure Skating. With an average donation size of more than $7,500, Engiven believes cryptocurrency will continue to provide an exceptional tax-based giving opportunity for donors who have been holding crypto long-term.
Lawrence continued, “While some cryptocurrency donations are made by young crypto millionaires, the reality is that most major crypto donations are coming from investors and philanthropists who own crypto as part of their overall investment strategy. Our experience is that these donors know which charities they want to support and, in many cases, have been supporting them for years. Cryptocurrency is simply a better way to support nonprofits while also leveraging the best possible tax benefits.”
The rapid adoption of cryptocurrency philanthropy is driving growth for many nonprofits and makes this a truly exciting moment for charities. Engiven is thrilled to partner with the nonprofit community and with crypto donors to provide a world class service that does good in the world.