Question 1

Does My First Bitcoin hold Bitcoin?

Accepted Answer

Yes. My First Bitcoin holds 100% of organizational savings in Bitcoin, confirmed for 2024. They are one of the most Bitcoin-native nonprofits in existence: they processed over 800 Bitcoin transactions in 2024, operated the entire year without a bank account, and run 85%+ of all payment volumes through Bitcoin or Lightning Network. This is not a treasury reserve strategy layered on top of a fiat operation — Bitcoin is their primary operating currency.

Question 2

How much Bitcoin does My First Bitcoin hold?

Accepted Answer

My First Bitcoin holds 100% of reserves in Bitcoin with no disclosed fiat savings. In 2024, they processed 800+ Bitcoin transactions with a payment breakdown of 63% Lightning Network, 23% on-chain Bitcoin, and only 14% fiat (a percentage that is decreasing quarterly). They operated the full year without a bank account. Exact BTC balance is not publicly disclosed, but their quarterly transparency reports confirm 100% BTC reserve status.

Question 3

How do I donate Bitcoin to My First Bitcoin?

Accepted Answer

Visit myfirstbitcoin.org to donate Bitcoin to My First Bitcoin. Lightning Network is their preferred payment method (63% of their total payment volume). On-chain Bitcoin is also accepted. Your donation goes directly into their 100% Bitcoin reserve treasury. MFB does not convert donations to fiat. Fiat donations are accepted but represent a decreasing share of their total payment volume.

Question 4

Is My First Bitcoin a verified Bitcoin treasury holder?

Accepted Answer

Yes. My First Bitcoin is a verified Bitcoin treasury holder with confirmed 100% BTC reserve status based on their own quarterly transparency reports. They operate in El Salvador, where Bitcoin is legal tender under the Bitcoin Law enacted in September 2021. Their verification is based on self-published quarterly reports documenting reserve status, transaction volumes, and payment breakdowns. They are listed as Confirmed in this directory. No independent on-chain wallet has been publicly disclosed, so the confirmation is based on organizational disclosure rather than on-chain verification.

Question 5

Why does My First Bitcoin hold Bitcoin instead of converting to fiat?

Accepted Answer

My First Bitcoin holds Bitcoin because their mission is Bitcoin education in El Salvador, the first country to adopt Bitcoin as legal tender under the Bitcoin Law enacted in September 2021. Operating on Bitcoin rails is a direct demonstration of their core thesis: that Bitcoin is viable as a primary financial system, not just a speculative asset. El Salvador eliminated capital gains tax on Bitcoin in 2021, removing a key friction point for holding rather than converting. For a nonprofit operating in a developing economy with limited banking infrastructure, holding Bitcoin also eliminates counterparty risk from traditional banking, removes currency conversion friction for their global donor base, and protects reserves from local currency devaluation. They teach Bitcoin by living it — 100% reserves, no bank account, 85%+ of payments on Bitcoin rails.

Question 6

Can I get a tax deduction for donating Bitcoin to My First Bitcoin?

Accepted Answer

My First Bitcoin is a nonprofit organization based in El Salvador. For US donors, tax deductibility depends on whether MFB has obtained IRS 501(c)(3) status or whether your donation qualifies under another mechanism. El Salvador-based nonprofits do not automatically qualify for US tax deductions. If you are a US taxpayer, confirm their current 501(c)(3) status directly with the organization before treating your donation as tax-deductible. For donors in El Salvador and other jurisdictions, consult a local tax advisor. Bitcoin donations to qualifying nonprofits in the US are treated as noncash contributions deductible at fair market value on the date of transfer.

Question 7

Where can I track My First Bitcoin's Bitcoin holdings?

Accepted Answer

My First Bitcoin publishes quarterly transparency reports documenting their Bitcoin reserve status, transaction volumes, and payment breakdowns. These reports are available at myfirstbitcoin.org. They are also listed in the Bitcoin Treasury Tracker as a confirmed 100% BTC reserve holder. Their quarterly reporting cadence makes them one of the most transparent Bitcoin-holding nonprofits in the directory.

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