In recent years, cryptocurrencies, digital assets used as mediums of exchange that use cryptography to secure the creation and exchange of the currency, have gained in popularity. One cryptocurrency in particular, Bitcoin, has received a considerable amount of attention in the media. As the general public’s awareness of Bitcoin increases, one must consider the impact that aligning a nonprofit with such a currency could have. The present research uses three studies to examine the impact that advertising the nonprofits’ alignment with Bitcoin has on perceived effectiveness as well as potential donors’ attitudes toward investing nonprofits’ assets in the currency. Results suggest that while accepting Bitcoin may enhance potential donors' perceptions of the organization, going so far as to actually invest in the cryptocurrency may be considered a poor choice. Implications for how nonprofit managers may want to handle involvement with this novel and potentially lucrative but risky currency are discussed.
Evans, Crystal A. and Schneider, Abigail B.
"Nonprofit Reputation and Bitcoin Use,"
Journal of Ideology: Vol. 40:
1, Article 1.
Available at: https://scholarcommons.sc.edu/ji/vol40/iss1/1