According to The Giving Block’s 2023 annual report titled “Crypto Philanthropy Data, Trends & Predictions,” all-time crypto donations in the platform surpassed $125 million in 2022. Based on the data available, the crypto charity project predicted that it could surpass $1 billion in August 2027, reach $5 billion in June 2031 and exceed the $10 billion mark in November 2032.
Data collected by the crypto charity platform The Giving Block shows that donations in the form of cryptocurrencies are set to go over $10 billion within the next decade.
In addition to the platform’s data on crypto donations, The Giving Block also based its predictions on its analysis of potential Bitcoin’s (BTC) price trajectory. The platform predicted that BTC may reach $100,000 on September 2026 and reach $250,000 on October 2029.
Within the annual report, the charity project also highlighted the most used cryptocurrencies in donations and the largest crypto donation of the year. As for the top crypto used for donation, USD Coin (USDC) took 44% of the volume, while Ether (ETH) followed suit with 24% and BTC used on 17% of the donations.
Meanwhile, Ethereum co-founder Vitalik Buterin held the record for the largest crypto donation of the year, giving $9.4 million through Balvi, his philanthropic fund.
Related: Crypto donations amplify speed and global reach during crisis
As charities and donations in crypto grow in number, some may wonder where the donations actually go. Back in 2022, The Giving Block also shared six charities that benefited from crypto donations. This includes the orangutan preservation project Orangutan Outreach, which cares for orphaned and displaced orangutans and the regenerative agriculture nonprofit Trees for the Future, which managed to plant 2.3 million trees because of the crypto donations they received.
Magazine: Best and worst countries for crypto taxes — Plus crypto tax tips
