Blockchain CEO donates $10,000 in Bitcoin to University of Puget Sound

In 2007, Nic Cary graduated from at Washington State’s University of Puget Sound with a Bachelor of Arts degree from the Business Leadership Program. In the seven years since his graduation, Cary has done alright for himself thanks to savvy investments in Bitcoin. Now the CEO of Blockchain.info, Cary decided to make a fitting donation to his alma mater, gifting UPS with 14.5 BTC, or roughly $10,000 at the current valuation.

The donation was made to the university’s 2013-14 Alumni Fund, and according to the UPS press release, Cary believes it to be the first donation of its kind.

Speaking with CoinDesk, university spokesperson Sherry Mondou said that the college was “delighted” about the gift, but also expressed some mild concerns about how to process the donation.

At the same time, we were a little uncertain how to proceed, as we had no gift policy on digital currencies and were unfamiliar with the process. But we greatly welcomed Nic’s thoughtful initiative and felt it would serve us well to learn to engage with the e-commerce world.”

Mondou also noted that the university was not keeping the donation in Bitcoin, and that the gift has already been converted out of Bitcoin via an account at BitPay.