The Rise of Crypto Donations: How Museums Are Embracing Alternative Gifts
In a shocking shift, museums across the US are embracing non-traditional donations - including cryptocurrency. What was once considered the domain of eccentric billionaires is now being accepted by some of the world's most prestigious institutions.
According to Adam Levine, director of the Toledo Museum of Art, which has begun accepting cryptocurrency since 2023, "there's a lot of flexibility in the kinds of donations we will accept." The museum's board determines what types of gifts are acceptable, while its development department figures out how to handle them. Not all museums are as open-minded, however - the High Museum of Art in Atlanta only accepts stock and real estate.
Crypto fundraising platform, The Giving Block, works closely with over 30 museums and cultural institutions across the US, including the Smithsonian Institution and the Los Angeles County Museum of Art. Last year alone, they accepted over $1.2 million in crypto donations - a nearly 50% increase from 2024. These donors are often young, wealthy millennials who tend to skew towards crypto assets.
The benefits of accepting non-cash gifts extend beyond just providing funds for museums. Donors can claim a tax deduction on their assets if they've been held for more than one year, with the value assessed at the time of the gift. However, finding an appraiser with expertise in cryptocurrency is proving to be a challenge.
"It's easier to appraise crypto than art or collectibles," says Chris Haydon, founder of Crypto Appraisal Pro. "With a Picasso or rare antique, you're making subjective judgments about condition, provenance and comparable sales that may be years apart." In contrast, the value of cryptocurrency can be easily verified through real-time pricing market data across multiple exchanges.
As with any non-cash charitable donation, donors may need to navigate complex appraisal processes. Some companies offer IRS-compliant appraisals for crypto assets, but fees vary widely depending on the value of the gift.
In recent years, the art world has been slow to adapt to the changing landscape of cryptocurrency. However, as prices skyrocket and more people are sitting on massive unrealized gains, it's becoming increasingly mainstream. According to Forbes' rankings, over 70% of top charities now accept cryptocurrency donations - a significant increase from just 12% in 2020.
As museums continue to explore new ways to engage with donors, one thing is clear: the world of non-cash gifts is changing faster than anyone expected.
In a shocking shift, museums across the US are embracing non-traditional donations - including cryptocurrency. What was once considered the domain of eccentric billionaires is now being accepted by some of the world's most prestigious institutions.
According to Adam Levine, director of the Toledo Museum of Art, which has begun accepting cryptocurrency since 2023, "there's a lot of flexibility in the kinds of donations we will accept." The museum's board determines what types of gifts are acceptable, while its development department figures out how to handle them. Not all museums are as open-minded, however - the High Museum of Art in Atlanta only accepts stock and real estate.
Crypto fundraising platform, The Giving Block, works closely with over 30 museums and cultural institutions across the US, including the Smithsonian Institution and the Los Angeles County Museum of Art. Last year alone, they accepted over $1.2 million in crypto donations - a nearly 50% increase from 2024. These donors are often young, wealthy millennials who tend to skew towards crypto assets.
The benefits of accepting non-cash gifts extend beyond just providing funds for museums. Donors can claim a tax deduction on their assets if they've been held for more than one year, with the value assessed at the time of the gift. However, finding an appraiser with expertise in cryptocurrency is proving to be a challenge.
"It's easier to appraise crypto than art or collectibles," says Chris Haydon, founder of Crypto Appraisal Pro. "With a Picasso or rare antique, you're making subjective judgments about condition, provenance and comparable sales that may be years apart." In contrast, the value of cryptocurrency can be easily verified through real-time pricing market data across multiple exchanges.
As with any non-cash charitable donation, donors may need to navigate complex appraisal processes. Some companies offer IRS-compliant appraisals for crypto assets, but fees vary widely depending on the value of the gift.
In recent years, the art world has been slow to adapt to the changing landscape of cryptocurrency. However, as prices skyrocket and more people are sitting on massive unrealized gains, it's becoming increasingly mainstream. According to Forbes' rankings, over 70% of top charities now accept cryptocurrency donations - a significant increase from just 12% in 2020.
As museums continue to explore new ways to engage with donors, one thing is clear: the world of non-cash gifts is changing faster than anyone expected.
It makes sense too, especially for those young, wealthy millennials who are all about this crypto life 
. But, seriously, it's crazy how much the art world is adapting to these new trends - like, just last year, only 12% of top charities were taking crypto, and now its like 70%! 
What was holding them back in the first place? I mean, the benefits are clear: more funds for museums, tax deductions for donors... it's a win-win! 
The fact that some companies are offering IRS-compliant appraisals is also super helpful. Now we just need to figure out how to make this process less complicated and accessible for everyone 
.
. But seriously, it's awesome that these institutions are opening up their doors (or should I say, their galleries?) to alternative gifts.
. And let's be real, who doesn't love a good tax deduction? 
. And hey, if it means more young people are getting involved and supporting causes they care about 
, then that's a good thing in my book 
. Bring on the cryptocurrency donations! 
how can someone appraise something that has no provenance or condition? anyway, it's dope that these museums are seeing an increase in funding from younger donors who are into crypto 
.
. I mean, who needs traditional donations when you can accept crypto and make a real impact? 
.
like whats next gonna be people givin their homes to art galleries? anyway i kinda get why they're doing it tho crypto is super liquid so museums can actually use the money right away unlike stocks or real estate which can take yrs to sell. and yeah its a tax deduction too which is pretty cool for donors. but idk about the appraisal part... seems kinda sketchy that ppl need 2 navigate all that complex stuff just 2 give their crypto lol
. I mean, who needs traditional art or collectibles when you can have Bitcoin or Ethereum, right? 
, accepting crypto as a form of donation. it's crazy to think that just a few years ago, this was considered "weird" and only for super rich people 
.
. I mean, we've had artists making bank with NFTs for years, but now it's the museums that are catching on 
. And let's be real, who wouldn't want to give their Bitcoin to a museum to support art and culture? 
.
.