Amidst the market downturn and widespread panic selling that began last week, shaving billions from Bitcoin’s market cap, altruism is driving-decision making among certain crypto investors. According to a new survey conducted by Pollfish, cryptocurrency hodlers are inclined to give up their assets for a worthy cause.
An overwhelming majority of respondents say they’re interested in making charitable donations using their cryptocurrency. The vast majority of respondents had already made a crypto donation and 1 in 4 are more likely to give up their assets if they can do it in crypto.
Here are some highlights from the study, commissioned by WeTrust, a decentralized platform for financial products.
90.5% reported having made a monetary donation to a charitable cause.
63% made a donation within the past year.
62% said charitable organizations should embrace cryptocurrencies for fundraising (versus those who said charitable organizations are doing fine without them).
24% said they would be more likely to make a monetary donation to a charitable cause if they could do so in cryptocurrency.
The survey of 1,000 US adults was conducted on October 11-12.
Socially driven entrepreneurs and nonprofits are able to raise crypto funds through WeTrust Spring, which allows cryptocurrency holders to make donations in Ethereum to a range of participating nonprofits.