The American Cancer Society has set up a fund for cryptocurrency donations so that the non-profit organization can raise at least $1 million in early 2021. Together with The Giving Block, the US-based voluntary health organization hopes to raise funds through several cryptocurrencies.

By 2020, donations for cancer-related research have fallen by 50%

According to the announcement, the Cancer Cryptocurrency Fund seeks to fund ongoing research projects. This move takes place against the backdrop of a significant reduction in donations during the 2020 COVID-19 pandemic.

According to the American Cancer Society, donations plummeted by 50% last year, the lowest level since this century. They commented on the motivation behind establishing a cryptocurrency fund:

The contribution of the crypto community will help rebuild vital research funding for new discoveries and better treatments to save the lives of family and friends.

According to the official cryptocurrency fund website, you can use Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), zcash (ZEC), Gemini U.S. Dollar (GUSD), basic attention token ( BAT) to donate and link (LINK).

The non-profit health organization said that the first donor to donate $250,000 or more will have the opportunity to name the fund. On the other hand, donors who donate more than $10,000 will appear on the wall of honor of the crypto fund.

Cryptocurrency plays a “key role” in the fight against cancer

Jeff Klass, Interim Chief Digital Officer of the American Cancer Society, commented on this announcement:

We hope that more people will join our mission. To this end, we need to ensure that people can choose when, where, and how to fight cancer. We thank Giving Block for its work to help achieve this goal.

In addition, the American Cancer Society recognizes the “emergency of cryptocurrency”, especially the impact of cancer on the entire crypto community.

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Pat Duffy, co-founder of The Giving Block, said the following about the relevance of cryptocurrencies in such programs:

I believe that cryptocurrency will play a key role in curing cancer. (…) With Bitcoin hitting a record high, the creation of this new fund opened the door to saving lives in the booming cryptocurrency market.

What do you think of this cryptocurrency cancer fund? Let us know in the comments section below.

Picture Credits: Shutterstock, Pixabay, Wiki Commons, American Cancer Society

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