Cryptocurrency Becoming Increasingly Common in Estate Plans
As more people enter the cryptocurrency sphere, the uses for crypto are becoming more widespread. For example, donations to charitable organizations using cryptocurrency are becoming more common through wills and trusts.
At this point, approximately 10 percent of Americans own some form of cryptocurrency. Crypto has left behind its roots as a niche hobby or investment and has entered the mainstream, with massive marketing campaigns for crypto trading platforms seeping into the public consciousness.
Thus, it should come as no surprise that crypto is being used in an increasingly wide range of settings-and charities have taken notice.
According to Giving Block, an organization geared towards helping nonprofit organizations accept cryptocurrency, more than $70 million was donated through its platform to various nonprofit organizations last year.
For more information about the processes of giving cryptocurrency to charitable organizations through your estate planning, contact an experienced Tampa, FL attorney at BaumannKangas Estate Law.