University in Cyprus to Accept Bitcoin for Payments

Can pay for tuition and school fees

The University of Nicosia in the island nation of Cyprus will accept the virtual currency Bitcoin as payment for tuition and other school fees.

The largest university in Cyprus said it will also offer a master's degree in digital currency next spring designed to increase understanding of "the technical underpinnings of digital currency."

"While digital currency is a relatively new concept, currency is one of the oldest human inventions," Andreas Polemitis, senior vice rector at the university, said in a statement. "What we aim to explore in this program is the likely development pathway of digital currency."