Alumni from Florida Gulf Coast University create the first endowed university scholarship fund using bitcoin

Alumni from Florida Gulf Coast University (FGCU) established a scholarship fund using Bitcoin. This initiative, announced in May 2014, marked a significant moment as it was one of the first instances of a scholarship fund being created with bitcoins.
 

The fund was initiated with an initial deposit of $2,500 worth of Bitcoin, which amounted to roughly 5.9 BTC at the time. The plan was to fully endow the scholarship over the next five years, with aspirations to complete the funding even sooner if possible.