Ivy League Institute adopts crypto for payment of tuition

Following the rapid increase in the adoption of crypto-related technologies across the world, several institutions, including Ivy League colleges have started accepting Bitcoin as a payment option.

According to Bloomberg, the Wharton School at the University of Pennsylvania, one of the premier business school’s in the US is planning to accept cryptocurrency as part of the tuition for its blockchain and digital assets course that costs $3,800.

The Wharton School expects to attract thousands of students each year as a result of the decision to start accepting digital currencies such as Bitcoin as a payment option.

Guido Molinari, the program developer at Prysm Group who works directly with Wharton stated that the new course is the only program at the school that will integrate support for digital assets as it is directly related to the industry.

However, Wharton School is not the pioneer educational institution when it comes to adopting digital assets. The Massachusetts Institute of Technology previously handed out Bitcoin to its students back in 2014. Also, in May this year, the University of Pennsylvania received a generous $5 million donation from an anonymous wallet.

Interestingly, Wharton School plays the role of Alma Mater to several hotshots now involved in the digital assets industry. A typical example is renowned crypto enthusiast and CEO of Tesla Elon Musk who graduated from the school in 1997. Another example is Arthur Hayes, the famous developer of top-tier cryptocurrency exchange BitMEX, who unfortunately had to pay up to $100 million in penalties for a settlement it reached with the U.S. Commodity Futures Trading Commission (CFTC) and the Financial Crimes Enforcement Network (FinCEN), as reported by BTC PEERS.

The business school intends to limit the implementation of cryptocurrency payments to the blockchain and digital technologies course alone for now.