In coming decade, crypto contributions will top $10B

According to data collected by the bitcoin charity website The Giving Block, cryptocurrency contributions will surpass $10 billion over the next decade.

According to The Giving Block’s 2023 annual report titled “Crypto Philanthropy Statistics, Trends, and Forecasts,” the platform’s total crypto donations in 2022 exceeded $125 million. Based on the available data, the crypto charity initiative anticipated it might surpass $1 billion by August 2027, $5 billion by June 2031, and $10 billion by November 2032.

The Giving Block based its projections not just on the platform’s statistics on crypto contributions but also on its study of Bitcoin’s price trend. The platform forecasted that the price of Bitcoin might reach $100,000 in September 2026 and $250,000 in October 2029.

The charity initiative also highlighted the most popular cryptocurrency utilized for donations as well as the year’s highest crypto gift. As for the most popular cryptocurrency utilized for contribution, USD Coin accounted for 44% of the volume, followed by Ether at 24% and BTC at 17%.

Vitalik Buterin, the co-founder of Ethereum, held the record for the year’s highest crypto contribution, contributing $9.4 million through his charitable foundation, Balvi.

If more money is given to charities and cryptocurrencies than ever before, people may start to wonder what happens to all that cash. In 2022, The Giving Block found six distinct charity groups that benefited from donations sent in bitcoin.

Orangutan Outreach, an organization dedicated to the preservation of orangutans, was one of them. Trees for the Future, a non-governmental organization dedicated to the promotion of regenerative agriculture, was another.

Trees for the Future used the cryptocurrency donations it received to plant 2.3 million trees. Orangutan Outreach assists orangutans who have been orphaned or relocated. Trees for the Future was responsible for planting the trees.