Entrepreneur makes Bitcoin gift to US college

February 19th, 2014 in Technology / Business

In what may be the first college donation of the new electronic currency, a Bitcoin entrepreneur has made a $10,000 virtual donation to a Washington state liberal arts college.

The University of Puget Sound said on Wednesday it had received a donation of 14.5 coins of the , which it has converted into more traditional dollars.

Nicolas Cary graduated from the university in 2007 and now runs Blockchain, which supports the online market. The 27-year-old CEO said he wanted to make the gift in the money that is central to his life and career.

He believes the donation is the first Bitcoin gift to a U.S. college or university.

Bitcoin is an open-source currency affiliated with no country or bank. Peer-to-peer trading began in 2009.

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"Entrepreneur makes Bitcoin gift to US college." February 19th, 2014. http://phys.org/news/2014-02-entrepreneur-bitcoin-gift-college.html