A Charity in San Francisco recently raised over $14 million to fight homelessness. The donations included Bitcoin, Ethereum and Ripple, showing that mainstream adoption of digital currencies is on the rise.
The donations were attained at a charity gala on May 3rd, hosted by the charity Tipping Point Community. The guest list included some huge names from the cryptocurrency sphere, including:
Chris Larson, CEO of Ripple
Brian Armstrong, CEO and co-founder of Coinbase
Dan Morehead, founder of Pantera Capital, a blockchain VC firm
There are currently very few charities in the United States that embrace cryptocurrency donations, but it is claimed that the trend will increase. Coinbase CEO Brian Armstrong said, “I think a lot more charities will be accepting crypto in the future.”
The donations were made with a QR code printed in the program and will be converted to USD. The donations will be used to tackle the issue of homelessness in San Francisco. Ripple CEO Chris Larsen whose net worth adds up to a whopping $4.6 Billion was heartened by the Silicon Valley Moguls using their newfound riches to help those in need.
Larsen said, “This is all about making sure that wealth is getting to people who need it most, and this helps lubricate that goal.”
This comes in the wake of the news that UNICEF wants to use your computer power to mine cryptocurrency, an essentially free donation.
This news shows that cryptocurrencies are becoming more popular amongst charities and the people donating to them. As more charities, companies and public figures adopt cryptocurrencies we will see mainstream adoption as much more likely. Mainstream adoption is coming!