Nicolas Cary, CEO of the Bitcoin wallet Blockchain, has donated 14.5 Bitcoins, worth $10,000, to the University of Puget Sound, the school announced Wednesday. When Cary contacted his alma mater about making a Bitcoin donation, the school wasn’t prepared to accept it. Sherry Mondou, vice president for finance and administration, said even donations in foreign currencies were rare for the university.
“We had not anticipated a gift of digital currency, and our gift acceptance policy was silent on it,” Mondou told Fast Company. “Nic’s gift gave us the opportunity to learn about Bitcoin and the process for accepting donations in this form.” Cary helped answer the university’s questions about Bitcoin and introduced it to the payment processing company BitPay, which was used for the transaction. “We performed our due diligence, and he stood ready to help in any way he could,” she added.
Read more here.