Some churches will welcome your cryptocurrency donation

Crypto, Bitcoin
Crypto currency illustration Photo credit Getty Images

(WBBM NEWSRADIO) — Some churches are looking at cryptocurrency as a new way to fill the collection plate.

Bill Ulivieri, owner of Cenacle Capital Management in Glenview, said religious groups and organizations that embrace the digital technology stand to gain financially while also attracting young people.

“This is like the ultimate fulfillment of the value proposition of Bitcoin and cryptocurrency: being able to send donations anywhere in the world for virtually no cost,” Ulivieri told the Noon Business Hour on Friday.

Churches typically have experienced rising costs with stagnant donation levels, he noted.

“They’re like running on a treadmill,” he said.

At the same time, the people who run some of these organizations resist change, Ulivieri said.

“What we’re seeing again at these younger churches is that they have a young congregation, and they’re asking them: How do you want to give? How can we make it easy for you, especially during the pandemic?”

At his church, he said, there are ushers waiting outside with bags to accept physical donations. Ideally, Ulivieri said, there would be a QR code on the back of the pew, giving worshippers the opportunity to transfer cryptocurrency.

Investors may want to donate part of their gains this way, he said.