Graduate gives $10,000 to University... in Bitcoins

A Bitcoin entrepreneur has donated $10,000 to a Washington state liberal arts college using the new electronic currency (AP)

A Bitcoin entrepreneur has donated $10,000 to a Washington state liberal arts college using the new electronic currency.

The University of Puget Sound said it had received 14.5 coins from Nicolas Cary, who graduated from the university in 2007 and now runs Blockchain, which supports the online currency market.

The 27-year-old CEO said he wanted to make the gift in the money that is central to his life and career.

He believes the donation is the first Bitcoin gift to a US college or university.

Bitcoin is an open-source currency affiliated with no country or bank. Peer-to-peer trading began in 2009.

AP