University of Pennsylvania continues to keep donated bitcoins

The University of Pennsylvania today confirmed it had a share of $ 5 million in donations received in bitcoins earlier this year.
The University of Pennsylvania today confirmed it had a share of $ 5 million in donations received in bitcoins earlier this year.

John Zeller, senior vice president of relations with college alumni, said the decision was partly due to the wishes of an anonymous donor, the New York Times reported. 
“the donor’s goal was to make a gift of this size, a promotional gift that said, “if you’re wondering, we’re in the crypto world and we can accept it.””; 
Bitcoin is a gift, announced by the University in a volume of advertising usually reserved for larger donations of Fiat investments such as stocks, bonds and real estate, but it should be noted that this is not all an ordinary process. 
Zeller noted: “our policy has traditionally been to sell everything immediately, even with $ 5 million in stock.”
However, as for Bitcoin, Zeller said,”We took something, we hid something.”

As explained in the news article, the development follows years of broader debate among nonprofits about how they should decry cryptocurrency donations.
In recent years, the benefits of donors have been less discussed, such as the ability to cancel capital gains taxes when bitcoin is transferred to charity.
Perhaps the biggest advantage, however, lies in international donations made in bitcoins, as the final solution to these donations can take place in just 10 minutes at an extremely low cost.
While all international fiat loan transfers have to pay decidedly high commissions, final settlements between central banks can last days (at best), weeks or even months. Some might argue that because of the threat of confiscation, the ultimate settlement in Fiat world never actually took place. 
As such, it is becoming increasingly common that bitcoin is the preferred donation strategy for the international

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