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Bitcoin is worth more than $2,500
The head of two Montessori schools in New York won’t let parents pay by credit card – but he is accepting Bitcoin.Marco Ciocca, co-founder and chairman of the Montessori Schools in Flatiron Soho, added the option in June, after growing inquiries from parents.The decision comes as an increasing number of places – including universities in London and Greece – take the digital currency as payment.About 10 parents of the roughly 300 students have opted to pay in Bitcoin so far, Mr Ciocca said.
- “If we talk about just the sort of transactional ease… I think this form of payment will continue to grow,” he said.Bitcoin is a digital currency that was first used in the real world in 2010.
- I bought Bitcoins in 2011 – now they’re worth ÂŁ19,000’It’s not just Bitcoin anymore…Parents who invested early and have ridden the currency’s rise get something like a discount on the school’s hefty $31,000 tuition.But Mr Ciocca said the school won’t profit from up-and-downs in the market.
- Tuition payments in Bitcoin – they also accept some other digital currencies – get converted to cash instantly.The decision to accept digital currencies matched the schools’ identity as “forward-thinking” and appealed to a pool of families drawn from tech and finance worlds, Mr Ciocca said.
- He’s working to offer the option to parents at two sister schools run by his family in Miami, Florida, in September.Angela Ciocca, Mr Ciocca’s sister, is headmistress of the schools there.
The head of two Montessori schools in New York won’t let parents pay by credit card – but he is accepting Bitcoin.
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