The University of Austin (UATX), a new private university in Texas, is breaking new ground in the education sector by accepting cryptocurrency payments. Teaming up with Unchained, a cryptocurrency platform, UATX has set up a $5 million Bitcoin fund for its endowment.

A Bold Move in Education

The University of Austin, set to welcome its first group of students this fall, is partnering with Unchained to create this Bitcoin fund. This collaboration aims to support the university’s goals of encouraging free speech and fostering intellectual risk-taking. Thomas Hogan, a new associate professor, noted that Bitcoin helps UATX in its mission to prepare future leaders and entrepreneurs.

Long-Term Investment Strategy

As part of their agreement, UATX and Unchained will purchase $5 million worth of Bitcoin, with a commitment to hold the investment for at least five years. Including Bitcoin in the university’s financial plans aligns with the increasing global adoption of cryptocurrency.

Building Community and Support

Joseph Kelly, CEO and co-founder of Unchained, expressed his enthusiasm for UATX’s vision. He believes that by choosing Unchained, the university acknowledges Bitcoin as a tool for freedom. This partnership aims to foster a long-term relationship not just in finances but also in marketing, events, and education.

Supporters of the university have welcomed this innovative approach, with many volunteering to donate their cryptocurrency. UATX has raised nearly $200 million, showing that non-traditional funding methods can be highly effective.

Conclusion

In this context, Bitcoin has been performing well, with recent prices fluctuating between $70,230.82 and $67,550.76. At the time of writing, Bitcoin was trading at $69,186, marking a 2.13% increase. This development reflects UATX’s forward-thinking approach and its commitment to embracing modern financial trends.