Children's Charity Creates Bitcoin Superhero to Attract Crypto Donations

The "Billy Bitcoin" hero is part of the charity's efforts to drum up more crypto donations.

AccessTimeIconFeb 8, 2021 at 9:07 a.m. UTC
Updated Aug 19, 2021 at 7:08 a.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

A U.S.-based children's charity has created a bitcoin superhero to help boost its fundraising profile.

The Songs of Love Foundation, which became one of the first national children's charities to accept cryptocurrency donations in 2013, is a nonprofit that creates personalized songs to uplift children facing tough medical conditions or emotional challenges.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • Launched Friday, the "Billy Bitcoin" superhero is part of the charity's efforts to increase donations through cryptocurrency, which it said on its website is "even more efficient than donating cash."

    Crypto donations to charities are not taxed in most jurisdictions around the world. In the U.S., a person does not owe capital gains tax on the appreciated amount and can deduct his or her donation.

    "This win-win solution means you have more money available to donate to charity and can deduct more on your tax return," the charity's website reads. "The difference can amount to more than 30%."

    Songs of Love accepts donations in 22 cryptocurrencies, from algorand to zcash.

    On Feb. 16, the foundation will celebrate its 25th annivesary. Since its inception, the charity has created "songs of love" for more than 36,000 children worldwide.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



    Read more about