If you were one of the tens of millions of people who watched the Super Bowl last year, you couldn’t help but notice the plethora of cryptocurrency advertisements that seemed to pop up at every commercial break. The cryptocurrency world began 2022 brimming with confidence that this was going to be a banner year for the flashy asset.

It may seem like cryptocurrency came out of nowhere, but its most well-known representative, Bitcoin, has been around since 2008. Since then, other cryptocurrencies such as Ethereum and Dogecoin have become popular investments, even by people who are skeptical of or know very little about cryptocurrency. In 2022 there were more than 14,000 types of cryptocurrencies on the market! Will cryptocurrency’s popularity continue to soar into the future? The championship football game between the Philadelphia Eagles and the Kansas City Chiefs may give us a clue.

The 2023 Super Bowl was remarkably absent of expensive cryptocurrency commercials, a reflection of the turbulent year the industry experienced. Part of cryptocurrency’s appeal has been its rapid, thrilling rise in value, which also makes it susceptible to rapid and erratic losses. 

For a variety of reasons, cryptocurrency can be a great tool to accomplish your charitable giving goals. Like all assets that have benefited from significant appreciation, you may trigger a high tax liability from the sale of cryptocurrency. In His Steps Foundation has a fund relationship with Coinbase, which allows us to receive cryptocurrency as charitable contributions. When you donate your cryptocurrency to our digital "wallet" at Coinbase, you’ll turn those digital coins into real world charitable giving capacity without incurring capital gains taxes. We can liquidate your cryptocurrency and make it immediately available for charitable giving through your donor advised fund.

Please contact IHS Foundation President, Ben Lee, with your questions:

benlee@ihsfound.org | 330.528.1785