In 2014, the University of Cumbria announced that it was accepting the digital currency, bitcoin, from its students as a form of payment, enabling students to pay for two degrees on complementary currencies through alternative means.
At the time, the cost of one bitcoin was around $960 and at the start of 2017 the price of one unit of the cryptocurrency had surpassed the $1,000 mark for the first time in three years.
According to professor Jem Bendell, founder of the Institute for Leadership and Sustainability (IFLAS) at the University of Cumbria, the reason the price of bitcoin has been increasing is because hedge funds are utilizing the cryptocurrency to expand their assets and as a way of sending money abroad cheaply.
Speaking to the News and Star, he said:
The main lesson of this price is wider than bitcoin. It shows that private currencies are here to stay.
Bitcoin Accepted Here
Since bitcoin first entered the scene it has steadily risen
Read more ... source: CryptoCoinsNews
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