The acceptance of Bitcoin globally has opened opportunities for traditional institutions to explore the skyrocketing digital assets sector; in the most recent development, LOMOND School, based in Scotland, has announced the acceptance of BTC as tuition fees.
It is worth noting that the LOMOND School will start accepting Bitcoin payments in the Autumn semester of this year.
LOMOND School’s announcement quotes, “ Bitcoin is available to anyone willing to learn, making it more democratic and inclusive, particularly for people in developing nations who lack access to traditional banking. Lomond sees Bitcoin as a perfect real-world case study in economics, computing, ethics, and innovation.”
Schools & institutions now accepting tuition fees in crypto
With the onset of online education, especially after the global pandemic COVID-19, the usage and adoption of digital assets have also grown, indicating a shift in mainstream trading culture towards cryptocurrencies.
Over the years, dozens of institutions and schools have dived deeper into the digital currency ecosystem to explore crypto’s potential; according to available information, the University of Nicosia became one of the first universities to accept tuition fees in BTC.
The University of Nicosia is based in Cyprus and has been accepting payments for its online and offline courses in Bitcoin since 2013. The institution began the acceptance of payment in BTC with an aim to ease the process of fee payment for the international students who have to indulge in long processes of currency conversion.
Bentley University, based in Massachusetts, started accepting Bitcoin, Ethereum, and USD coin for semester fees, with a partnership with Coinbase in 2022.
The executive education blockchain and digital assets-based programs offered by the Wharton School, University of Pennsylvania, can also be availed by the students by making payments in cryptocurrencies like Bitcoin, Ethereum, and USD coin.
With the adoption and usage of crypto reaching its peak, the inclination of institutions, colleges, and schools has been recorded as they want to explore the opportunities in the crypto space.
Earlier in 2024, Todayq reported that Birla Institute, based in India, has launched its on-campus cryptocurrency in order to create a decentralized ecosystem in the university.
Other than the acceptance of tuition fees in crypto, the usage of digital assets for donation and other mankind activities has been reported, and crypto moguls like Justin Sun, Vitalik Buterin, and the former Chief Executive Officer of Binance remain in the spotlight due to their massive crypto donations.
Most recently, it was reported that the co-founder of Ethereum has donated over $1 million in crypto to Thailand to overcome the losses from the earthquake of over 7 magnitude.
Crypto market news updates
Until publishing, the crypto market cap was $2.64 trillion with a surge of 2.62%, the trading volume was $86.12 billion with a loss of 16.65%, and the crypto fear and greed index was at 27, showing a mild recovery from the previous day.
Currently, Bitcoin is exchanging hands at $ 83,685 with a surge of 3.17% intraday, and its market cap is $1.66 trillion, which also grew 3.19%, and volume is $37.98 billion with a loss of 14.75%.
The intraday gainers list has been ruled by AB, JasmyCoin, BONK, PI, XDC Network, Sei, Artificial Superintelligence Alliance, Onyxcoin, Flare, and Bitcoin Cash.
In the same frame, the losers of the list are EOS, Story, Walrus, Zcash, Cosmos, Hedera, Helium, Pancakeswap, Movement, Ethena, and Theta Network.
