University gets $10,000 donation….in BITCOINS:

BITCOINS in its simplest form is a virtual currency that can be used to anonymously purchase merchandise, buy on an exchange, and transferable any where in the world without being tied to any country’s currency, regulations, or transaction fees.  Nicolas Carey, CEO of the BITCOIN wallet Blockchain and also a University of Puget Sound alumnus, has recently donated 14.5 Bitcoins, which is the equivalent of $10,000 to the university he graduated from in 2007. The main purpose of his donation is for the university’s campaign designed to raise $ 125 million for financial aid, academic programs, research, facilities, and other initiatives. Initially, the school’s reaction was not ready and unsure of how to deal with this type of currency since even donations in foreign currencies were extremely rare for the university. After learning more about Bitcoin , the school happily accepted his generosity.  “ Nic’s gift gave us the opportunity to learn about BITCOIN and the process for accepting donations in this form.” said Sherry Mondou, vice president for finance and administration.

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