Glenrose to accept cryptocurrency as donations

EDMONTON – Members of the public will now be able to pull out their “crypto wallet” and donate to the Glenrose Rehabilitation Hospital Foundation, since it has become the first health-care foundation in Alberta to accept donations in cryptocurrency.

The Edmonton Sun reports that Glenrose has partnered with The Giving Block to accept a number of different cryptocurrencies, including bitcoin.

“This represents another way for individuals to donate to the Glenrose,” said Mark Korthuis (pictured), president and CEO of the foundation, adding those donating will be able to get a tax receipt for their crypto donation.

Korthuis said the COVID-19 pandemic has had a significant impact on the revenue of charitable organizations across the province and cryptocurrency opens up a new avenue for people to give.

Cryptocurrency is still in the early phases of adoption and is already a $2-trillion market, said Korthuis.

“I think as the digital economy continues to progress, cryptocurrencies and particularly bitcoin are going to play a more significant role in our society,” he said.