Bitcoin, bitcoin donation, Bitcoin Donations, BTC, btc donation, Cape Cod Healthcare, CCHC, Christopher Lawson, Coronavirus, COVID-19, hospital, Mike Lauf, NPO

One of Cape Cod’s largest hospitals received two bitcoin donations this year totaling $800,000 in value. The Massachusetts-based not-for-profit medical centre (NPO), Cape Cod Healthcare, explained that an anonymous donor donated $400k last Friday and the NPO received a $400k bitcoin donation last month as well.

Cape Cod Healthcare Gets $800K in Bitcoin Donations

The hospital Cape Cod Healthcare (CCHC) is considered one of the leading providers of healthcare services in Cape Cod, Massachusetts. This week, the NPO told the Boston Globe staff member Anissa Gardizy that it received two bitcoin (BTC) donations worth $800,000.

CCHC’s senior vice president and chief development officer, Christopher Lawson, said the donor wished to remain anonymous and sent an email last month asking the hospital to accept BTC donations. Lawson said the donor had helped CCHC before the two crypto donations, and had just recently asked if the hospital would accept his BTC gift.

Lawson told Gardizy that before accepting the donation, the administration had to see if the hospital could deal with transactions sent in cryptocurrency.

“Before we responded, Lawson said. “We had to make sure there were not any issues. It required a good amount of research,†he added. “My office probably spent a week or two doing our best to learn who else was doing this.â€

After getting approval from CCHC’s finance department and the hospital’s CEO Mike Lauf, the firm launched a donation address. Lawson said that because the donor gave the $800k worth of bitcoins to the hospital, he will be free from paying taxes on the funds.

“It makes it an asset that is attractive to donate,†Lawson stressed. “You get maximum impact on the value, and any gains you get, much like stock, you don’t pay the tax,†the hospital administrator added. Lawson did detail, however, that the CCHC finance team immediately converts the donations to dollars.

Mainstream Acceptance

The first $400k donation was sent on January 28, 2021, and the following month on February 19, the donor sent another $400k worth of bitcoins. CCHC’s senior vice president said that other NPOs could also set up bitcoin donation support in order to accept the crypto asset.

“I’m really excited. We are coming out of a period during COVID when donations were hard to come by for a lot of folks,†Lawson emphasized. “This lets people know that we have the capability of accepting these cryptocurrencies in donation, and we have the infrastructure in place.†Back in May, Cape Cod Healthcare furloughed more than 600 employees.

“It is not widespread but it is becoming more mainstream,†Lawson concluded. “People are accumulating these assets, and they are looking at opportunities to donate them,†he added.

What do you think about the two bitcoin donations totaling $800k sent to Cape Cod Healthcare? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

RELATED NEWS

A Crypto-Infused Professional Sports League: Billionaires Form a Blockchain Advisory Committee for the NBA

A number of National Basketball Association (NBA) team owners have formed an NBA blockchain advisory committee for the American professional basketball league. The advisory committee is composed of well known billionaires and blockchain advocates who own the teams the Nets, Mavs, Wizards, Celtics, Kings, and Jazz. Billionaire NBA Team Owners Invoke a Blockchain Advisory Committee […]

Xem chi tiết: A Crypto-Infused Professional Sports League: Billionaires Form a Blockchain Advisory Committee for the NBA

JP Morgan Poll: 22% of Investors Say Their Institutions Likely to Trade or Invest in Cryptocurrencies

A recent JP Morgan poll found that 22% of the respondents said their respective organizations were likely to trade or to invest in cryptocurrencies. This figure (22%) is double the percentage of respondents (11%) who said yes when asked if their respective organizations were already trading or were invested in cryptocurrencies. The Institutional Embrace of […]

Xem chi tiết: JP Morgan Poll: 22% of Investors Say Their Institutions Likely to Trade or Invest in Cryptocurrencies

The Many Facts Pointing to Cypherpunk Len Sassaman Being Satoshi Nakamoto

Satoshi Nakamoto, the creator of Bitcoin, has always been a mysterious character and a great number of sleuths have made it their mission to discover the inventor’s identity. One particular theory was published this month which attempts to tether the well known and now deceased, Len Sassaman to the creation of the first cryptocurrency. Moreover, […]

Xem chi tiết: The Many Facts Pointing to Cypherpunk Len Sassaman Being Satoshi Nakamoto

Indictment Order Issued Against Leaders of the Geek Group for Their Role Using BTC in an Illegal Money Transmission Business

A U.S. District Court has indicted three individuals behind the now-defunct Geek Group for their role in running an illegal money transmission business that used bitcoin to move funds across states. According to the indictment documents, it was Christopher Allan Boden then president of the Geek Group, who “sold bitcoin to numerous customers, in exchange […]

Xem chi tiết: Indictment Order Issued Against Leaders of the Geek Group for Their Role Using BTC in an Illegal Money Transmission Business

John McAfee Indicted by DOJ Over Alleged Cryptocurrency Fraud Charges

Tech entrepreneur and former anti-virus tycoon John McAfee has been indicted by the U.S. Department of Justice (DoJ) on money laundering and fraud charges. The United States Attorney for the Southern District of New York and the FBI unsealed the indictment charging McAfee and his associate Jimmy Watson with securities fraud. John McAfee Indicted by […]

Xem chi tiết: John McAfee Indicted by DOJ Over Alleged Cryptocurrency Fraud Charges

$1 Million per BTC in 10 Years: ‘In Terms of Dollars Bitcoin Is Going to Infinity,’ Says Kraken CEO

While bitcoin prices have been coasting along between $46k to $48k during the last three days a number of proponents are still bullish about the crypto asset’s long-term value. On Thursday, Kraken CEO Jesse Powell said that he thinks bitcoin could easily reach a million-dollar valuation per coin. “When you measure it in terms of […]

Xem chi tiết: $1 Million per BTC in 10 Years: ‘In Terms of Dollars Bitcoin Is Going to Infinity,’ Says Kraken CEO

South Korean Moms Are Taking the Lead in Buying Bitcoin Despite the Coronavirus Pandemic

As bitcoin prices keep exchanging hands above the $48k handle as of press time, South Korea notices a particular growing trend in a specific profile of crypto investors. A recent study revealed that a new era of “crypto moms†is emerging across the board in the country. Millennials Are Lagging Far Behind, Says Study Per […]

Xem chi tiết: South Korean Moms Are Taking the Lead in Buying Bitcoin Despite the Coronavirus Pandemic

‘The Fed Is Trapped’- Erratic Bond Markets, Exhausted Supplies, Analyst Says Tsunami of Treasury Issuances Underway

The U.S. Federal Reserve is in a predicament as fiscal deficits erode the American economy and the nation is seeing a spike in benchmark 10-year Treasury yields. Meanwhile, Federal Reserve Chairman Jerome Powell expressed zero worries about inflation during an interview at a Wall Street Journal Jobs Summit on Thursday. Powell didn’t explain when the […]

Xem chi tiết: ‘The Fed Is Trapped’- Erratic Bond Markets, Exhausted Supplies, Analyst Says Tsunami of Treasury Issuances Underway

The Many Facts Pointing to Cypherpunk Len Sassaman Being Satoshi Nakamoto

Grayscale Adds 174,000 LTC to Its Litecoin Holdings- Price of the Altcoin Unresponsive

Bitcoin to Reach $100K to $288K in 2021? Stock-to-Flow Models Suggest It Could

BTC Branded ‘the Most Portable Asset’ as 420k Bitcoins Used as Collateral in Q4 of 2020

An Iranian Think Tank Recommends the Use of Cryptocurrencies to Circumvent Sanctions

The Largest US Options Exchange Cboe Applies to List Vaneck’s Bitcoin ETF

20 Bitcoin Block Rewards from 2010 Moved Today, Mystery Miner Spent $400 Million in BTC Since Black Thursday

Crypto Markets Regain Billions, Bitcoin Price Bounces Back 15%, Analyst Says ‘Resurgent Mood In the Air’

Other Articles