The Campanile Foundation (TCF), an auxiliary of the San Diego State University (SDSU), began accepting crypto donations in October 2021. Now, SDSU itself announced that it would begin accepting digital assets as donations, specifically Bitcoin (BTC) and Ether (ETH).

David Fuhriman, TCF’s chief financial officer, said that they would be withdrawing about 1% of the overall crypto holdings every quarter to fund crypto-related campus activities. For instance, activities that want to help the university discover and learn how to better interact with crypto, like creating a system that enables more expansive digital transactions within the institute.

Meanwhile, they will proceed to convert the remaining funds into BTC. They won’t liquidate the funds immediately because they hope the asset’s value will increase in the future, which can further help the university and its programs.

Even though the crypto market remains unstable and there’s a certain risk of continuing to hold onto assets, SDSU maintains a bullish perspective. Fuhriman says that Bitcoin does go up, “this endowment could last forever.” The CFO emphasizes that the university could receive long-term benefits by holding onto the asset.

YouTube video

SDSU hopes that by stepping foot inside the crypto space, they will draw in more potential donors who are specifically interested in sustaining crypto-related activities and programs within the university. Not only that, but it could also attract younger donors who have unconventional points of view regarding wealth creation.

While SDSU is certain about its decision to start accepting crypto donations, other organizations such as Mozilla and Wikimedia are currently in the spotlight because of it—and not in a good way. Recently, Wikimedia contributors urged the foundation to stop accepting crypto donations due to cryptocurrencies’ negative impact on the environment. The proposal states that Wikimedia is directly violating its supposed commitment to sustainability by accepting crypto.

Mozilla also encountered a similar issue recently. After posting a tweet reminding users that they can still donate with crypto, Mozilla’s co-founder Jamie Zawinski expressed his disappointment at the organization for supporting an industry that only manufactures pollution.

Previous articleUruguay Installs First Bitcoin ATM in Major Tourist Spot
Next articleWill Slot Machines Incorporate AI Technology in the Future?