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.
The CSRD Is Having an Impact, a Study by PwC Shows
The study by PwC also shows the challenges of CSRD implementation. 64 percent of the companies surveyed cited technical complexity...
Gamefound and CMON Enter into a Partnership
This partnership secures Gamefound the exclusive release of CMON's future crowdfunding and pre-order campaigns, including the highly anticipated God of...
Solaris Bank Ends Months of Trepidation with ADAC Deal
The deal is financially important for both companies, not only for Solaris bank. It also marks a turning point in...
Ailin Closes a Financing Round of 1.5 Million Euros
Ailin secures 1.5 million euros in its first financing round, surpassing initial expectations. Investors include a family office in the...
SMOG: Experts Name the Flagship Crypto of the Solana Ecosystem
The cryptocurrency market is booming. The recent performance of Bitcoin which exceeds $50,000 is palpable proof of this. Likewise, the...
Markets1 week ago
Both Cocoa Markets Were Sharply Higher and Entered the Stratosphere Last Week
Cannabis1 day ago
What EMCDDA Changes to the Cannabis Law in the European Union Mean for the Industry
Impact Investing2 weeks ago
Why ESG Investing Practices and Rules Needed to Be Updated
Business6 days ago
Inflation: Cost of Eating Out Continues To Rise, a Potential Boon for Restaurant Discounters Like Restaurant.com