SEATTLE -- It may be the first of its kind for American higher education philanthropy.
A graduate of the University of Puget Sound has given the school a $10,000 gift in bitcoins, according to a press release by UPS.
Nicolas Cary, 28, is a 2007 graduate of UPS's Business Leadership Program and the CEO of Blockchain, which runs a "digital wallet" for bitcoins.
As he told UPS, it may be the first bitcoin gift ever made to an American college or university.
The open-source digital currency is not affiliated with a country or bank, and it can be used to make transactions through mobile and desktop devices. Since its launch in 2009, the bitcoin has developed a following and is already accepted by some businesses.
Cary told UPS that he had always wanted to make a donation to UPS once he had the means to do so. He said he received scholarships and loans as a college student and hopes he can make a difference for those needing help to get through school.