New York preschool accepts bitcoin as payment

Posted on: July 2nd, 2017 by ABC News No Comments

Ulrich Baumgarten/Getty Images(NEW YORK) — Two private preschools in New York City are now accepting a nontraditional form of tuition payment: bitcoin.

Marco Ciocca, co-founder and chairman of the Montessori Schools in the Flatiron and Soho neighborhoods, added the option in June after multiple inquiries from parents.

The decision comes as an increasing number of places, including universities in London and Greece, accept bitcoin as payment, the BBC reported.

Bitcoin is a type of digital currency that is exchanged independent of banks or governments. It was first used in the real world in 2010, according to the BBC. Its worth has more than doubled since the start of 2017 and now tops $2,500, according to CoinDesk, which tracks the currency.

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