In the United States, a Bitcoin superhero is created to boost crypto donations for sick children

The American children’s charity Songs of Love has created the Billy Bitcoin superhero to boost donations. The foundation accepts donations in 22 digital assets, as stated on the site.

Cryptocurrency transfers to nonprofit organizations in the United States are treated as stock donations and are not taxed. Songs of Love called this approach a “win-win option”.

“Donating cryptocurrency, such as Bitcoin, to the Songs of Love Foundation is even more effective than cash… You do not have to pay capital gains tax and you can deduct the donation from your taxes,” the organization said.

The Billy Bitcoin superhero urged support for children with serious illnesses and to donate in Bitcoin, the leading cryptocurrency.

Songs of Love is one of the first children’s charitable foundations to launch cryptocurrency donations. In its 25 years of existence, the charity has created the so-called “Songs of Love” for more than 36,000 children worldwide.

Earlier, the nonprofit American Cancer Society (ACS) launched a cryptocurrency charitable foundation to fight cancer.

In December 2020, the Salvation Army began accepting donations in Bitcoin and Ethereum through Engiven.

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