Ivy League University Starts Accepting Bitcoin as Payment

As cryptocurrency and blockchain technologies continue to become increasingly utilized throughout the world, various educational institutions have thus started to accept Bitcoin (BTC) as a viable payment method for tuition fees.

The University of Pennsylvania&39s Wharton School of Business made headlines recently when it announced that it shall be accepting cryptocurrencies such as Bitcoin as payment. The Ivy League institution anticipates attracting countless students each year via such an initiative, as it is indeed the younger generation that has played a vital role in the global adoption of cryptocurrencies. As such, the institute has added a new course centered around the study of blockchain, digital technologies and cryptocurrencies, and the course will reportedly cost $3,800 (all of which can be paid in BTC).

Wharton&rsquos relationship with crypto

The Wharton School is among the most prestigious business schools within the entire United States, and its notable alumni involve the likes of Elon Musk, Warren Buffet, and Sundar Pichai. The school will indeed start accepting Bitcoin (BTC) and other cryptocurrencies as payment for tuition before long, but it should also be mentioned that the acceptance will be restricted to the online blockchain, cryptocurrencies, and digital assets program, which will reportedly begin in January next year.

The six-week course is called &lsquoThe Economics of Blockchain & Digital Assets&rsquo, and it costs $3,800 as aforementioned. In order to successfully facilitate the acceptance of cryptocurrency payments, the Wharton School shall employ the services of Coinbase Commerce, which is the main e-commerce portal of Coinbase.

The business school had also managed to make headlines earlier on in 2021 when it acquired a massive $5 million Bitcoin donation. In May, an unknown donor had sent the $5 million, which roughly translates to about 118 BTC. The Wharton School quickly converted the flagship cryptocurrency asset contribution to fiat, a move that had resulted in the institution being given over $7 million at today&39s prices.

Cryptocurrencies and education

Many academic initiatives involving cryptocurrencies have occurred throughout the years. For instance, the Massachusetts Institute of Technology (MIT) distributed BTC to its respective student body back in 2014. Numerous other institutions have recently begun to accept cryptocurrency as payment for tuition as well.

It could be argued that as the cryptocurrency industry grows and gains more traction, many aspects of our society will gradually come to adopt a more progressive and accepting perspective towards the new digital asset class. One thing is for sure though, and that is the fact that cryptocurrencies are not going away anytime soon.