UNICEF France Now Accepts Donations in Bitcoin (BTC) and Other Major Cryptos

  • UNICEF France is now accepting donations in nine major cryptocurrencies.
  • Mosques and various other charitable organizations have started accepting crypto donations.

The United Nations Children’s Fund (UNICEF) has reportedly starting accepting donations in nine major digital currencies including Bitcoin (BTC) and Bitcoin Cash (BCH). At present, only UNICEF’s office in France is accepting crypto donations.

Nine Major Cryptocurrencies Accepted

In addition to BTC and BCH, UNICEF’s French office is accepting Ethereum (ETH), Ripple (XRP), Stellar (XLM), Monero (XMR), Litecoin (LTC), Dash, and EOS. People who want to donate cryptocurrency to UNICEF France can do so by visiting their website.

Sébastien Lyon, the executive director at UNICEF France, commented on the organization’s announcement by noting:

Cryptocurrency and blockchain technology used for charitable purposes offer a new opportunity to appeal to the generosity of the public and continue to develop our operations with children in the countries of intervention.

Sébastien Lyon

Lyon also mentioned that cryptocurrencies and their underlying technology offer an innovative way to raise funds for various social causes, however, there are currently not many organizations that are harnessing their benefits.

The French UNICEF head acknowledged that there are a few communities which have started the positive trend of accepting charitable donations in cryptocurrencies. In May, the Shacklewell Lane mosque in East London announced it would accept charity in cryptocurrency.

Notably, this is not the first time that UNICEF has introduced a crypto-related initiative. In February, the New York-based humanitarian organization started a fundraising effort to help children in Syria, which has been embroiled in a violent civil war since 2011.

"Game Chaingers", "The HopePage"

UNICEF’s fundraising campaign was called “Game Chaingers” and aimed to get online video game players involved in an effort to help children suffering in Syria. In order to participate in the charitable initiative, users had to download a crypto mining app from UNICEF’s official website.

After installing the app, the users’ computing resources were used to mine Ethereum’s native token, Ether (ETH) - which went towards offering developmental assistance to children in Syria. The Game Chaingers program managed to raise 85 ETH, an amount valued at nearly $21,000 according to CryptoCompare data.

In May, UNICEF’s office in Australia began its own crypto fundraising effort by launching a website called “The HopePage.” People who visit the website can donate their computing resources in order to mine cryptocurrencies. The digital currency generated from mining is then used to help the citizens of underdeveloped countries.

Swiss Bank Digital Assets Head Refutes Goldman Sachs’ Bitcoin Report

Michael LaVere
  • Swissquote Bank digital assets head Chris Thomas published a rebuttal to Goldman Sachs' report dismissing bitcoin as an asset.
  • Thomas argued bitcoin's volatility is normal for an infant market and should be considered in a diversified portfolio. 

A Swiss bank executive has published a rebuttal against Goldman Sachs' scathing analysis of bitcoin which claimed that cryptocurrencies are not an asset class. 

On May 27, a leaked outlook presentation by Goldman Sachs revealed that the investment bank is bearish on the future of bitcoin. The Wall Street bank claimed that bitcoin and cryptocurrencies should not be considered an asset class and are too volatile for rational investment. 

Chris Thomas, head of digital assets at Swissquote Bank, published a point-by-point rebuttal to the Goldman report, calling the bank’s analysis of bitcoin a disservice to investors. 

According to the release, bitcoin represents an emerging asset class that will prove suitable for both retail and institutional participants. While Thomas admitted the technology is still at an “early stage,” the Swiss exec argued that crypto-assets deserve to be considered in a diversified portfolio. 

He wrote, 

Goldman Sachs is ignoring the strong foundations of this emerging asset class based on cryptographic principles and a world where many, if not all, assets will be tokenised, and trading them will be democratised.

Thomas continued, refuting Goldman’s dismissal of bitcoin due to its high price volatility. He argued that volatility is “absolutely natural” for a market in its infancy and cautioned investors against over-extending themselves in crypto. 

Thomas also took issue with the Goldman report highlighting Bitcoin’s 37% price plunge in mid-March. 

He wrote, 

Absolutely, bitcoin did fall 37% on March 12, 2020. And just one month later, Oil markets plunged 333% in the space of 24 hours, nearly 10x a greater drop, touching a low of MINUS $40 per barrel at one point. In December 2019, Goldman Sachs predicted the average oil price through 2020 would be $63 per barrel.

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