Breast cancer organization Susan G Komen will now accept major cryptocurrencies such as Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) as a form of contribution through a partnership with cryptocurrency donation solution The Giving Block.
What Happened: Susan G. Komen took to Twitter to announce its decision to accept cryptocurrencies as donation.
Through a partnership w/ @TheGivingBlock, Susan G. Komen now accepts #cryptocurrency as a form of donation. You can donate #Bitcoin, #Ethereum and more. This will give us more ways to fight #breastcancer and save lives.
Donate today https://t.co/gvWgHlmzDd pic.twitter.com/bxhZOy23ec
— Susan G. Komen (@SusanGKomen) December 26, 2021
In addition to the major cryptocurrencies, the breast cancer organization will accept stable coins such as USD Coin and several other altcoins including Aave, Alchemix, Audius and BarnBridge.
Why It Matters: Susan G Komen is an organization founded in 1982 by Nancy Brinker after her sister and the foundation’s namesake Susan Goodman Komen died of breast cancer in 1980 at the age of 36.
The organization says it plans to use the cryptocurrency donations to fund lifesaving research in breast cancer. It has invested nearly $1.1 billion in breast cancer research since 1982.
The foundation’s move also highlights the increasing relevance of cryptocurrencies in mainstream circles as an investment option and in day-to-day activities.
Donating cryptocurrency directly to a non-profit organization is tax efficient for cryptocurrency holders, as the Internal Revenue Service (IRS) classifies cryptocurrency as property for tax purposes.
The Giving Block says on its website that it aims to enable non-profit organizations and cryptocurrency donors to find each other easily.