University accepts Bitcoin donations to fund crypto-related activities
University of Nicosia in Cyprus is accepting Bitcoin donations to fund crypto-related activities, reports local news outlet CNA. The university will use the cryptocurrency as a way to increase its online presence and expand grant programs for students interested in blockchain technology.
The “crypto holders” is a term that refers to people who own cryptocurrencies. The University of Nicosia in Cyprus has accepted donations in Bitcoin to fund crypto-related activities.
The Campanile Foundation (TCF), a supporter of San Diego State University (SDSU), received its first cryptocurrency gift back in October 2021. The institution has now declared that it accepts contributions made in Bitcoin (BTC) and Ether (ETH).
According to TCF Chief Financial Officer David Fuhriman, 1% of the overall crypto holdings will be withheld every quarter to finance campus initiatives that explore how the institution may use cryptocurrency, such as developing a system that allows for more extensive digital transactions on campus.
With the expectation that the price would rise in the future and support further projects, the remaining money will be converted into BTC in the interim rather than being immediately liquidated.
This autumn, SDSU received the institution’s first bitcoin gift, paving the way for further donations of this kind in the future.
More about contributions made in digital money. https://t.co/UsXeG9FaGc pic.twitter.com/NLREW4mPHk
January 14, 2022, San Diego State University (@SDSU)
The institution is still optimistic, despite the fact that the cryptocurrency market is unstable and owning the assets might result in a possible loss. This endowment “may continue forever if the value of bitcoin increases,” Fuhriman remarked. The CFO emphasized that they think holding might provide the SDSU excellent long-term rewards.
The goal of the SDSU’s introduction into the crypto industry is to draw in more prospective donors who are eager to fund university programs relating to the industry. Fuhriman also said that it may attract the interest of younger contributors who might have outlandish ideas about how to create money.
Green and gold: The cryptocurrency initiatives preserving the environment
While Wikimedia and Mozilla are under criticism for accepting cryptocurrency contributions, the SDSU is insistent about doing so. Growing numbers of Wikimedia contributors want the organization to cease taking bitcoin payments because of the harm it does to the environment. The proposal claims that Wikimedia’s commitment to sustainability is broken by accepting bitcoin.
Mozilla had the same problem. Following a message reminding users that the platform is taking cryptocurrency contributions, the group received criticism from its supporters, headed by Mozilla co-founder Jamie Zawinski, who believes that the whole cryptocurrency sector only creates pollution and sells it for money.
The “crypto news” is a university that accepts Bitcoin donations to fund crypto-related activities. The university has seen an increase in interest from students and the community.