March 29, 2024

The University of San Diego switched to bitcoin donations

San Diego State University announced that it will accept donations in Bitcoin. Earlier in October 2021the university received the first such donation in the amount of 0.5 BTC.

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One of the biggest donations in BTCtook place in May 2021, it was intended for the Wharton School of the University of Pennsylvania. Then the educational institution received $ 5 million in cryptocurrency, which was accepted to be sent for storage.

All donations for the University of San Diegoare controlled by The Campanile Foundation in partnership with the university's Research Foundation. CFO David Furiman said that the Campanile Foundation will hold most of the donations in bitcoin, while other universities have converted them into US dollars.

At the same time, 1% will be allocated quarterly(approximately every three to four months) to expand the activities of a charitable foundation or other campus programs. Furiman clarifies that the funds will be used to find out the further interaction of the university with cryptocurrencies and, specifically, bitcoin.

Universities are always looking for ways to raise money,to improve the campus and your communities. Bitcoin donations are a convenient way to get funding from alumni who want to help their alma mater.

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