April 10, 2023

Hamas Calls for Donations in Bitcoin

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The Gaza-based group Hamas called for making financial donations to the Palestinian resistance through the digital currency of Bitcoin. 

Hamas’s call came following the past week’s violence that erupted in Jerusalem (Al Quds) when Israeli forces attacked and beat worshippers at Al Aqsa Mosque, according to Anadolu News Agency

A spokesman for the armed wing of Hamas, the Qassam Brigades, said in a statement: “It is now possible to directly deliver support to the resistance through Bitcoin.” 

This is not the first time the Qassan Brigades made such a call for donations to it through Bitcoin. Similar calls were made in 2019 and 2021 in a bid to get around international restrictions on funding the organization.

Earlier in March, the Giving Block, a crypto charity platform, expected that the crypto donations would surpass $10 billion in the next ten years, according to Cointelegraph.

In its 2023 annual report, titled “Crypto Philanthropy Data, Trends & Predictions,” The Giving Block pointed out that, according to data, the crypto donations on the platform exceeded $125 million in 2022. And based on the data, it predicted that the donations in crypto would hit $1 billion by August 2027 and would reach $5 billion in June 2031, and exceed the $10 million mark in November 2032.

As for the most used cryptocurrencies in donations, The Giving Block said that the USD Coin was the most used crypto for donations, accounting for 44% of the total donations, followed by Ethereum (24%) and Bitcoin (17%).

In addition, the crypto platform expected that the bitcoin would reach $100,000 in September 2026 and $250,000 in October 2029 based on its price trajectory.

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