Thursday, March 4, 2021
  • Contact
  • Privacy Policy
  • Terms & Conditions
Trends Wide
  • Home
  • News
  • Business
  • Lifestyle
  • Trending
  • Australia
  • Deals
  • Cryptocurrency
No Result
View All Result
Trends Wide
Home Economie

Cape Cod Healthcare (CCHC) receives BTC donations worth £567K

souhaib by souhaib
February 23, 2021
in Economie
0


Cape Cod Healthcare (CCHC), a leading not-for-profit medical center in Cape Cod, Massachusetts, has received Bitcoin (BTC) donations worth £567,650. A report unveiled this news on February 19, noting that the hospital got two contributions, each worth £283,830. Reportedly, the donor, who wished to remain anonymous, has been an ardent supporter of the healthcare institution in the past. However, this was the first time they donated in BTC.

According to the report, the donor sent the hospital an email in the past month asking whether they accept BTC donations. Seeing as the hospital could not accept BTC at the time, it conducted relevant research and got the approval of its finance department and its CEO, Mike Lauf before proceeding to set up a donation address. 

Related posts

Rightmove’s revenue slides 29% in 2020 despite record number of visitors.

February 26, 2021

Salesforce says its full-year revenue topped £14 billion for the first time.

February 26, 2021


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

Reportedly, the account generates a customized QR code, which donors can scan to donate BTC. After the hospital’s BTC address was up and running, the donor sent the first contribution on January 28 followed by the one on February 19. Through the QR code, other donors can also gift the hospital BTC at any given time.

Commenting on how the donation has transformed how CCHC accepts contributions, CCHC’s senior vice president and chief development officer, Christopher Lawson, said

We are coming out of a period during COVID when donations were hard to come by for a lot of folks. This lets people know that we have the capability of accepting these cryptocurrencies in donation, and we have the infrastructure in place.

An effective instrument for donations

Per Lawson, CCHC discovered that the Internal Revenue Service (IRS) has regulations on digital currencies, including donations and gifts. The hospital found that charitable BTC donations do not attract taxes. As such, the donor will not have to report gains or losses to the taxman.

This tax exemption makes BTC an attractive asset for donations. He added that getting BTC donations gives the maximum impact on value. Apart from this, the entity on the receiving end of the contribution does not have to report any gains. To this end, he believes that other non-profits, including museums and universities, will soon begin accepting BTC among other cryptocurrencies as gifts.

However, CCHC’s concerns over BTC’s wild price swings have seen the hospital decide to cash out all BTC donations immediately to prevent value loss.

Tip: looking for an app to invest wisely? Trade safely by signing-up with our preferred choice,
eToro:

visit & create account



Source link

Next Post

In the video, a dog exposes the president of Zurich to an embarrassing situation

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Alstar 1.25″ Color/Planetary Moon Filter for Telescope – #AC54

4 weeks ago

Brazil’s Amazon riverside communities receive COVID jabs

3 weeks ago

Chrissy Teigen shares heart-wrenching photos of baby loss, fans and friends send support

5 months ago

Tiger King star Joe Exotic’s team have LIMO ready to pick him up from jail for expected Trump pardon

1 month ago

BROWSE BY CATEGORIES

  • Australia
  • Cryptocurrency
  • Culture
  • Deals
  • Discounts
  • Economie
  • Euro
  • Gaming
  • Lifestyle
  • News
  • Opinion
  • Sports
  • Switzerland
  • Trending
  • Uncategorized

BROWSE BY TOPICS

2018 League abc Australia Bali United bbc bbc health Budget Travel Champions League Chopper Bike cnn ar business dailymail dailymail australia dailymail heath dailymail money dailymail sport day 7 euronews Health https://lenews.ch/feed/ IGN Istana Negara Market Stories National Exam rt arabic usa today usa today money usa today sport Visit Bali Women Fashion

POPULAR NEWS

  • Watch .. Lebanese astronomer Michel Hayek reveals his predictions for the year 2021

    0 shares
    Share 0 Tweet 0
  • Help save a local business

    0 shares
    Share 0 Tweet 0
  • Love Insurance

    0 shares
    Share 0 Tweet 0
  • 5 places to visit in Microsoft Flight Simulator 2020.

    0 shares
    Share 0 Tweet 0
  • Reece Parkinson: A shock diagnosis won’t stop me running

    0 shares
    Share 0 Tweet 0

Follow us on social media:

Recent News

  • Australian ex-Muslim activist Zara Kay claims she received rape and death threats while in Tanzania
  • Egypt .. The Nile swallows 7 people
  • Facebook takes down hundreds of fake Russian Instagram accounts

Category

  • Australia
  • Cryptocurrency
  • Culture
  • Deals
  • Discounts
  • Economie
  • Euro
  • Gaming
  • Lifestyle
  • News
  • Opinion
  • Sports
  • Switzerland
  • Trending
  • Uncategorized

Recent News

Australian ex-Muslim activist Zara Kay claims she received rape and death threats while in Tanzania

March 4, 2021

Egypt .. The Nile swallows 7 people

March 4, 2021
  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • News
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Opinion

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.