Foundation Based On Bitcoin Wins Nonprofit Statushttp://www.thenonprofittimes.com/news-articles/foundation-based-bitcoin-wins-nonprofit-status/A foundation in Sacramento, Calif., is claiming that it is the first bitcoin-based charity to be granted 501(c)(3) status by the Internal Revenue Service (IRS).
The BitGive Foundation has been operating as a volunteer organization since it was founded a year ago, supporting various public health and environmental causes and exclusively using bitcoins, a digital currency. The announcement of its nonprofit status came with the start of the foundation’s initial fundraising campaign, which will be used to build their long-term fund for charitable giving.
