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Donors who give digital currencies to charity are typically younger than the average donor (often in their 20s and 30s) are wealthier and more philanthropic than the average donor. It might answer the challenge of finding young donors who have the capacity to give large gifts while also having a lifetime ahead of them to build a relationship with causes.
The average crypto donation in 2024 was $10,978, which was a 386.33% increase from 2023, according to information in the new annual report from the crypto currency platform The Giving Block.
Crypto donors generally fall into two primary categories: Crypto Evangelists and Optimistic Investors, according to the report’s authors. Crypto Evangelists are deeply passionate about the transformative potential of blockchain technology and view Crypto Philanthropy as a means to advance mainstream adoption while making a positive societal impact, according to information in the rep[ort.
Many of these donors are long-time holders who experienced significant gains and want to “pay it forward,” aligning their giving with their belief in a decentralized future of finance. Optimistic Investors are primarily motivated by the financial advantages of donating crypto, such as reducing taxable gains while supporting causes they care about. Often younger and focused on maximizing returns, these donors see crypto donations as a strategic way to align tax efficiency with philanthropic goals.
The total crypto currency market cap reached $3.72 trillion during 2024, surpassing the peak of the 2021 bull market and double the market cap of silver. Bitcoin peaked at $108,309 in December 2024, outperforming traditional financial assets such as the S&P 500.
Stablecoins processed nearly $30 trillion in transactions during 2024 — more than Visa and Mastercard combined.
In 2023, data shows a strong preference for stablecoins, with U.S. Dollar Coin (USDC) accounting for 44% of all crypto donations. This trend is largely due to USDC’s price stability, as it is pegged to the U.S. dollar, making it an attractive option for donors seeking to minimize volatility.
The demand for stablecoin donations tends to surge during periods of market downturns, such as the 2023 bear market when investors were reluctant to part with more volatile assets they perceived as undervalued. The second and third most donated cryptocurrencies of 2023 were Ethereum (ETH) at 24%, followed by Bitcoin at 17%.
