A university in Cyprus now accepts payments from students in Bitcoin

University of Nicosia in Cyprus has become the first accredited university in the world to accept payments from students in Bitcoin.

The University of Nicosia in Cyprus today announced it will accept payments from students in Bitcoin, making it the world’s first accredited university to do so. The move doesn’t come as a huge surprise, as the island nation of Cyprus has been closely linked with Bitcoin this year. As the country’s financial crisis deepened last Spring, Cypriot leaders accepted a bailout deal from the EU that involved taxing almost 10 percent on deposits over €100,000 ($134,000), leading to a rush on the banks. Some of that withdrawn money was invested in Bitcoin, with daily transactions tripling in the aftermath of the deal. The currency’s value soared and has continued to be strong ever since.

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