On Tuesday, January 26, the American Cancer Society announced that a crypto only donation fund is now live on their website. In partnership with The Giving Block, the crypto cancer fund will be accepting donations in the form of Bitcoin (BTC), Bitcoin cash (BCH), Ether (ETH), Litecoin (LTC), ZCash (ZEC), Gemini Dollar (GUSD), Basic Attention Token (BAT), and Chainlink (Link).
Last year, the non-profit organization raised donation funds that were 50 percent less than what they usually collect. The low inflow was due to the COVID-19 pandemic that shrank incomes worldwide. With the variety of cryptocurrencies accepted, The American Cancer Society hopes that the crypto only donation fund will raise at least $1,000,000 by early 2021. The society will invest all these funds to critical cancer research for new discoveries and better treatments after surviving the lowest investment towards this last year.
The naming rights for the fund will go to the first donor to give $250,000 or more. They may choose to name it after themselves or a loved one. Moreover, the non-profit will have the names of all donors who give $10,000 or more on their Cancer Crypto Fund Wall of Honour.
Cryptocurrencies’ Pivotal Role in Curing Cancer
The American Cancer Society saw an opportunity in the world of cryptocurrencies and decided to grab it. There is no denying at this point that digital currencies are continuing to increase in popularity. The voluntary health organization acknowledges the value that The Giving Block brings to non-profit donations by tapping into cryptocurrencies.
As crypto enthusiasts continue to trade and enjoy profits, they can now contribute to a good cause that the non-profit pursues. Additionally, because users can transfer cryptocurrencies easily and faster, the society recognizes that this may boost the number of donations.
Cryptocurrencies’ ability to increase in value is the cherry on the cake of this crypto only donation fund initiative. The Giving Block’s co-founder, Pat Duffy, affirmed this through his comments that noted bitcoin’s rise in value could mean a booming crypto market to save lives. The fund will give cryptocurrencies a pivotal role in curing cancer.