In addition to cash, stocks, art and land, colleges and universities are letting donors know they are happy to accept a new type of gift: cryptocurrency.
The University of Pennsylvania announced last week it had received $5 million worth of Bitcoin from an anonymous donor. The money was earmarked for the Stevens Center for Innovation in Finance at the Wharton School.
The gift pales in comparison to some of the university’s other newsworthy donations, including a $125 million gift to the law school in 2019 and a $225 million donation to the school of medicine in 2011. But still the gift made headlines — it’s the largest cryptocurrency gift the Ivy League university has ever received.
