Bobos & Wojaks

Get rich or die tryin

Dogecoin, Shiba Inu, And Other Cryptocurrencies Are Now Accepted By The Canadian Healthcare Foundation

dogecoin-shibainu-crypto

The Glenrose Rehabilitation Hospital Foundation (GRHF), a healthcare foundation based in Alberta, has begun taking donations in a variety of cryptocurrencies, including Bitcoin ($BTC), Ethereum ($ETH), and even the meme-inspired cryptocurrency Shiba Inu ($SHIB).

According to local news site Global News, the move was made possible through a collaboration with philanthropic cryptocurrency group The Giving Block, which allows the GRHF to accept cryptocurrency donations from donors.

Once received by GRHF, the money is changed to the fiat currency that it is used to. The healthcare organization stated in a press release that bitcoin donations allow it to reach a new group of donors in Alberta. The organization’s president and CEO, Mark Korthuis, stated:

“By accepting cryptocurrency donations, we’re going to open new pathways to fund innovative health technologies that will make a real difference for patients recovering from injury or living with chronic conditions.”

The GRHF is allegedly still struggling with the impact of the COVID-19 pandemic on its funding streams, and bitcoin donations are being considered as a potential new revenue stream. It’s important to emphasize that The Giving Block is a regulated charity with a regulated trust.

As previously reported by CryptoGlobe, Quincy University, a private Franciscan university in Illinois, has begun taking cryptocurrency donations, including the meme-inspired coins Dogecoin ($DOGE) and its rival Shiba Inu ($SHIB).

doge-shibainu-crypto

The institution stated in a release that as a 501(c)(3) charity, it will receive the full amount of contributions and that cryptocurrency gifts are tax-deductible. Tax-deductible contributions, on the other hand, cannot be made anonymously because donors will be identified.“need to provide their name, address and email for the gift to be tax-deductible.”

Notably, bitcoin donations to Fidelity Charitable, the largest grantmaker in the United States, increased by more than 1,000% last year. Through donor-advised funds, the organization received $331 million in crypto assets, up from $28 million in 2020.

The early DOGE community was well-known for undertaking charitable endeavors. It made waves in 2014 when it raised more than $25,000 in DOGE to let the Jamaican bobsleigh squad compete in the Winter Olympics in Sochi.