People are increasingly subscribing to the idea of diversifying their financial assets from fiat currencies to digital financial assets. Organizations in need of donations continue to grow, and the limited medium that provides willing individuals to donate to a cause has seen an increase in donations through cryptocurrency.
A private university based in Illinois, United States, Quincy University has become the latest educational institution to embrace the cryptocurrency bandwagon with its readiness to accept donations in Dogecoin, Bitcoin, and other digital tokens.
The university accepts a total of thirty-two cryptocurrencies for donations. Among the available options are DOGE, ETH, BTC, SHIB, TRX, LTC, and a host of others.
According to one of the directors at the university, Matt Bergman, the rapid growth of cryptocurrencies and, by extension, blockchain technology is not slowing down any time soon, and the school acknowledged this by making available options for donors to support the education of underprivileged students and other projects at the university.
The First to Take the Lead
In 2014, when Bitcoin was still in its early stages, the first university in the U.S. to receive donations in cryptocurrency was the University of Puget Sound. The university’s alumni donated about 14.5 BTC, estimated to be worth $10,000 at that particular period via a payment processing firm, Bitpay.
Since then, the number of educational institutions that have been open to accepting cryptocurrencies has shot up and is likely to continue expanding. Interestingly, the Wharton School domicile at the University of Pennsylvania provides its blockchain event participants the means to pay their fees in Bitcoin tokens.
A growing number of institutions and organizations are also looking into the future by not limiting their financial services to fiat currencies alone. Digital financial services have also been used for some specific transactions. Given the near absence of complicated transaction processes involved in cryptocurrency trading, it is just a matter of when, not how long, cryptocurrencies will have a place in the payment systems of most organizations.
Tesla, MrBeast, And Others Accepting Dogecoin
As for the first meme cryptocurrency, Dogecoin, several businesses have since begun accepting DOGE for its services. The most prominent, among others, is Tesla. The electric car manufacturer towed the path of its founder by accepting the meme coin as payment for some of its merchandise.
Elon Musk, the billionaire industrialist, is a strong supporter of the digital meme coin, with his numerous tweets capable of causing price speculation on Dogecoin. His remarks about the fast-food giant, McDonald’s‘ readiness to start accepting DOGE for payment, and his willingness to sit on live TV to eat a McDonald’s “Happy Meal” are classic examples of Musk’s publicity of DOGE.
Another fast-food chain, MrBeast, has already offered to sell its products to its customers, ready to pay in DOGE. The meme cryptocurrency has made a case for itself, backed by a supportive fan in the person of Elon Musk and a robust community. How far can the meme token go?