University accepts Bitcoin donations to fund crypto-related activities

Back
in
October
2021,
The
Campanile
Foundation
(TCF),
an
auxiliary
of
the
San
Diego
State
University
(SDSU),
accepted
its
first
crypto
donation.
Now,
the
university

announced

that
it
is
welcoming
digital
currency
donations
in
Bitcoin
(BTC)
and
Ether
(ETH).

TCF
chief
financial
officer
David
Fuhriman
said
one
percent
of
the
total
crypto
holdings
would
be
withdrawn
quarterly
to
fund
campus
activities
that
aim
to
discover
how
the
university
could
interact
with
crypto,
such
as
working
on
a
system
that
permits
broader
digital
transactions
within
the
university. 

Meanwhile,
the
rest
of
the
funds
will
be
converted
into
BTC
and
will
not
be
liquidated
immediately,
with
hopes
that
the
price
will
go
up
in
the
future
and
help
more
programs. 

While
the
crypto
market
is
volatile
and
holding
the
assets
could
lead
to
a
potential
loss,
the
university
remains
bullish.
“If
the
value
of
Bitcoin
goes
up,
then
this
endowment
could
last
forever,”
Fuhriman
said.
The
CFO
underscored
that
they
believe
that
holding
could
provide
good
long-term
benefits
for
the
SDSU.

The
SDSU’s
entry
into
the
crypto
space
aims
to
attract
other
potential
donors
who
are
interested
in
supporting
crypto-related
programs
in
the
university.
Fuhriman
also
mentioned
that
it
could
also
draw
the
attention
of
younger
donors
who
might
have
unconventional
perspectives
when
it
comes
to
wealth
creation.



Related:




Green
and
gold:
The
crypto
projects
saving
the
planet

While
the
SDSU
is
adamant
about
accepting
crypto
donations,
organizations
like
Wikimedia
and
Mozilla
are
under
fire
because
of
it.
A
rising
number
of
Wikimedia
contributors
are
urging
the
nonprofit
to

stop
accepting
donations
in
cryptocurrency

because
of
crypto’s
negative
impact
on
the
environment.
According
to
the
proposal,
the
acceptance
of
crypto
violates
Wikimedia’s
commitment
to
sustainability.

Mozilla
faced
a
similar
issue.
After
tweeting
a
reminder
that
the
platform
is
accepting
crypto
donations,
the

organization
faced
backlash
from

its
followers,
led
by
Mozilla’s
co-founder
Jamie
Zawinski
who
thinks
that
the
entire
crypto
industry
only
manufactures
pollution
and
converts
it
into
cash.

read original article here