Bitcoin adoption in Paraguay is moving forward. A university has announced it will accept tuition fees in the form of Bitcoins in the future.
Paraguay wants to accept Bitcoin as legal tender just like El Salvador. A corresponding bill is to be submitted for this purpose on July 14th, as Congressman Carlos Rejala announced a few days ago.
Now there is good news from one of the most important universities in the South American country. The Universidad Americana in the capital Asunción has announced that it will accept Bitcoin as a payment method for tuition fees in the future. However, this does not make the Universidad Americana the first university in the world to do so.
Born2Invest’s team of journalists gathers the most interesting business news in a single mobile application. It’s impossible to keep up with everything you’re interested in, but our companion app will help you keep track of the important news. Our app is being updated throughout the day.
Eight universities worldwide accept Bitcoin
The University in Paraguay is now the eighth university worldwide to accept Bitcoin as a means of payment. The following universities have been accepting BTC for tuition or semester fees for quite some time:
Massachusetts Institute of Technology (USA)
Pompeu Fabra University (Spain)
Simon Fraser University (Canada)
University of Cumbria (Great Britain)
University of Nicosia (Cyprus)
ESMT Berlin (Germany)
Lucerne University of Applied Sciences and Arts (Switzerland)
Bitcoin adoption in Latin America is advancing
Overall, Bitcoin adoption in Latin America is progressing extremely fast. After El Salvador made Bitcoin an official currency, the next country to follow suit is Paraguay. Panama, Mexico, and Argentina could also follow suit in the near future with new laws on the use of cryptocurrencies.
The Bitcoin price itself was able to recover quickly in the last two days after a price crash to $28,000 and is currently quoted at around $34,000. The market capitalization of all cryptocurrencies, on the other hand, is relatively low at $1.33 trillion.
Even the good news regarding Bitcoin adoption in various countries has had little impact on the Bitcoin price so far. Especially due to the influence of GBTC, the Bitcoin price could fall further.
Institutions such as the World Bank and the International Monetary Fund (IMF), in addition to the events in China, are also negatively affecting the Bitcoin price. For example, the World Bank refused to help El Salvador build the infrastructure for Bitcoin as a legal tender. The IMF also wants to analyze the situation in detail.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in CRYPTO MONDAY, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Mozambique/Debt: Credit Suisse Pleads Guilty and Pays $475 million
Credit Suisse bank has pleaded guilty to conspiracy to commit fraudulent financial transfer by paying $475 million in a settlement...
Virtual and Augmented Reality Are Shaking Up the Education Experience
While virtual and augmented reality are making a big impact in all manner of fields, education is one sector that...
MicroStrategy Stock Could Fall 12% after Bitcoin ETF Launch
MicroStrategy's revenue has dropped from more than $513 million in 2017 to more than $480 million in 2020. Profits have...
Atrys Health Increases Sales Fivefold in the First Half of 2021
Atrys Health presents its financial results for the first six months of 2021 while announcing that it has reached an...
Medical Cannabis To Be Sold Freely in Drugstores across Colombia
The Colombian Association of Cannabis Industries, Asocolcanna, indicated that the potential of this market is great since the country went...
Cannabis2 weeks ago
Malta Might Soon Legalize Private Cannabis Consumption
Featured2 weeks ago
Why an Energy Crunch is Most Likely Coming
Featured2 weeks ago
Small Businesses in Colombia Benefit From the Development of the Fintech Sector
Cannabis2 weeks ago
ArgenCann Will Be Part of Expo Cannabis 2021