San Diego State University (SDSU) announced in October 2021 that it had received its first contribution to crypto. The Campanile Foundation (TCF), now a subsidiary of SDSU, has officially announced that the university will accept donations in crypto payments. Currently, the options for donations include cryptocurrency like Ethereum and Bitcoin.
Chief Financial Officer of TCF, David Fuhriman explains how the university uses the cryptocurrency funds they receive as donations. University Crypto Holdings sells 1% per quarter, David said. Proceeds from the sale of crypto will further finance university activities, which will increase their great understanding and knowledge of the crypto and blockchain industry.
Currently, all donations are converted to Bitcoin. Instead of converting these bitcoins directly into cash, they follow a systematic plan.
While we also know that bitcoin or any other crypto is very volatile and can cause huge losses to the university, yet, the university is bullish on its bitcoin holdings.
Regarding this David said that:
“If the value of bitcoin increases, this endowment will last forever”
SDSU’s initiative aims to bring more focus to the university so that students can easily join other people who want to collaborate and support crypto and blockchain education.
David also commented that the crypto industry is getting great support due to the younger generation. It helps to involve the younger generation in contributing to the University.