The Great Wealth Transfer: Why Universities Need to Adapt to the Rise of the Millennials and Cryptocurrency

A recent study by Deloitte’s Monitor Institute suggests that Millennials will inherit $68 trillion over the next 25 years, making them a new force in philanthropy. Fidelity Charitable’s study on Cryptocurrency and Philanthropy also revealed that 35% of Alumni Millennials currently hold a Crypto Portfolio. Despite these trends, only 5% of universities currently accept Cryptocurrency Donations, which begs the question: why?

One common reason cited is the belief that Crypto is a fad. However, the reality is quite the opposite. In fact, the global crypto market cap has grown from 829 billion to 1.23 trillion since Jan 1, 2023, and in the United States alone, crypto has grown a staggering 120 billion in value since the beginning of this year. Additionally, digital banking institutions have rebounded well compared to their traditional counterparts during this time of Central Bank interest rate manipulations to slow down the US economy.

Another reason cited is the lack of knowledge about Crypto. However, with Crypto offerings such as QuickGift, there’s no need for universities to be experts in the field. QuickGift is a managed wallet offering, similar to working with credit card vendors, where donors gift Crypto and the university receives USD and ACH settlements within a few days.

Lastly, universities may not see many donors asking if they accept Crypto donations simply because it is not currently offered as a payment option on their main online donation page. This issue is not unique to Crypto and is also seen with other modern payment methods such as Venmo, Google Pay, and Apple Pay. By turning on new payment methods and announcing that they have done so, universities can encourage donors to make payments through these methods.

In summary, QuickGift is an online donation solution that provides customizable and fully branded giving forms that embed directly into university websites within minutes. With the rise of Crypto and the increasing role of Millennials in philanthropy, it’s time for universities to consider expanding their payment options and embracing new technologies.

Personalized and Streamlined Giving Donations with QuickGift.

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