Bitcoin As its adoption continues to grow rapidly, it has begun to find its way into institutional funds. At this point, a new private institution located in the US state of Texas University of Austin (UATX), It aims to revolutionize the education sector by accepting Bitcoin as a form of payment.
According to Bloomberg news, Austin University will accept the donations it will collect in Bitcoin and will create a $ 5 million Bitcoin fund with these donations and has partnered with Unchained, a cryptocurrency platform, for this.
The Bitcoin fund created by the University of Austin, which is expected to enroll its first group of students this fall, is a long-term investment. BTCwill keep the ‘s.
Working as an associate professor at the University of Austin thomas hogan He said in his statement:
“By incorporating Bitcoin into its endowment, the University of Austin is setting a precedent for other academic institutions to explore alternative and potentially more resilient financial models.
Bitcoin provides a unique opportunity to further UATX’s commitment to developing the next generation of leaders and innovators.”
A spokesperson for the University of Austin said it will keep Bitcoin in the fund for at least five years. of the university BTCHe stated that among the reasons he chose was because many of his supporters asked if he accepted donations in cryptocurrency.
Unchained CEO and co-founder Joseph Kelly said in his statement: “I am very passionate about what UATX is building in Austin. “By choosing Unchained as a partner, the university understands what Bitcoin is: that is why I will continue to defend Bitcoin as a ‘technology for freedom.’” said.
The university plans to enroll 100 students this fall and will provide free education for the first group.
*This is not investment advice.
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