San Diego State University is moving toward the next level to increase awareness about crypto.
San Diego State University (SDSU) announced for the first time in October 2021 that it has received the first donation in crypto. Now an auxiliary of SDSU, The Campanile Foundation (TCF), announced officially that the University will accept donations in crypto payments. These crypto assets will include Ethereum and Bitcoin.
David Fuhriman, TCF’s chief financial officer, explained how the University will use the funds of crypto holdings that they will receive in the form of donations. David said that University will sell 1% of the crypto holdings every quarter of the year. And the funds from selling the crypto will be used to fund the activities in the university, which will drive huge awareness and knowledge about the crypto and blockchain industry.
For now, all the donations will be converted into Bitcoin. And they will follow the systematic plan to use these Bitcoins, instead to liquidate into cash directly.
However, we know that Bitcoin or any other crypto is highly volatile and may end up in huge losses for University but still, university will remain bullish on the Bitcoin holdings.
“If the value of Bitcoin goes up, then this endowment could last forever”
This initiative of SDSU is aimed to bring huge attention toward the university so that other people who want to donate and support crypto and blockchain education to the students will join them easily.
David also noted that the crypto industry is getting much better support because of the younger generation. And this will help to engage the younger generation to donate to the university.