Cyprus University Accepts Bitcoin

    This April 3, 2013 photo shows bitcoin tokens at 35-year-old software engineer Mike Caldwell's shop in Sandy, Utah. Caldwell mints physical versions of bitcoins, cranking out homemade tokens with codes protected by tamper-proof holographic seals, a retro-futuristic kind of prepaid cash. With up to 70,000 transactions each day over the past month, bitcoins have been propelled from the world of Internet oddities to the cusp of mainstream use, a remarkable breakthrough for a currency which made its online debut only four years ago. (AP Photo/Rick Bowmer)

    Rick Bowmer/AP,Rick Bowmer

    With Cyprus still recovering after needing a bailout from the European Union, its largest university, the University of Nicosia, will now accept the digital currency Bitcoin as payment for tuition as well as other fees. It will also begin to offer a master's degree in digital currency. "While digital currency is a relatively new concept, currency is one of the oldest human inventions," Andreas Polemitis, senior vice rector at the university, said in a statement.  The university will also encourage its government to turn the country into a Bitcoin hub.

    Read it at the Los Angeles Times