Quincy Institution (QU), an Illinois-based private university, has announced that it has begun taking cryptocurrency donations, including the meme-inspired coins Dogecoin ($DOGE) and Shiba Inu ($SHIB).
The institution stated that it will receive the full amount of contributions and that bitcoin gifts are tax-deductible. Tax-deductible donations cannot be made anonymously since contributors “must supply their name, address, and email address for the gift to be tax-deductible.” The institution accepts 32 different crypto assets in total, including popular tokens such as BTC, ETH, and LTC, as well as meme-inspired coins.
Matt Bergman, the institution’s senior director of promotion emphasised that people are increasingly investing in digital money, and we don’t expect that to change very soon. QU is continuously searching for ways to make it as simple as possible for donations to support our students and activities.
JUST IN: Quincy University, an Illinois-based university, is now accepting donations in #Bitcoin, #SHIB, #Dogecoin and other cryptocurrencies
— Watcher.Guru (@WatcherGuru) February 21, 2022
The university stated in its announcement that 46 million Americans, or roughly 22 percent of the adult population in the United States, own cryptocurrency. This is not the first time cryptocurrencies are used as a gift to universities. The first known cryptocurrency gift to higher education occurred in 2014, when a University of Puget Sound alum donated $10,000 in cryptocurrency to the school.
