University of Austin (UATX), a newly established private institution in the state of Texas, has made an exciting announcement. In a bid to revolutionize the education sector, UATX has decided to accept Bitcoin as a form of payment.
As Bitcoin continues to gain widespread adoption, it is now making its way into institutional funds. The University of Austin is embracing this trend by accepting Bitcoin donations and creating a $5 million Bitcoin fund with the help of cryptocurrency platform, Unchained.
The Bitcoin fund, which will be established in anticipation of the university’s first batch of students this autumn, aims to hold BTC for the long term. Thomas Hogan, an associate professor at the University of Austin, expressed his enthusiasm for this move, stating that it sets a precedent for other academic institutions to explore alternative financial models that are potentially more resilient.
By incorporating Bitcoin into its endowment, the University of Austin is not only embracing a unique opportunity but also staying true to its commitment of nurturing the next generation of leaders and innovators. The university plans to keep Bitcoin in the fund for a minimum of five years.
The decision to accept Bitcoin was driven by the university’s supporters who expressed interest in donating in cryptocurrency. Unchained CEO and co-founder, Joseph Kelly, commended the university’s choice, emphasizing that Bitcoin is not just a financial asset but a technology for freedom.
In addition to accepting Bitcoin, the University of Austin has ambitious plans to enroll 100 students in its inaugural class and provide them with free education. This initiative aligns with the university’s vision of making quality education accessible to all.
It is important to note that this article does not constitute investment advice. However, for those interested in investing in cryptocurrencies, Binance exchange offers the opportunity to trade over 300 digital assets with a 20% commission discount.
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