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MIT bookstore adds Bitcoin payment option

The move makes The Co-op at MIT the first major university bookstore to accept the digital currency as a payment method.

September 4, 2014

Bitcoin payment processor BitPay has announced that the MIT Co-op bookstore is accepting Bitcoin as payment. 

The MIT Co-op already offers a Bitcoin exchange in its store and now is the first major university bookstore to add the digital currency as a payment method, according to a press release. 

"The MIT Co-op is the first campus-based business to respond to this student-led adoption, continuing its reputation as a cooperative by students and for students," said Co-op President Jerry Murphy in a statement. "Once we decided to add Bitcoin to our bookstore, we turned to BitPay to make it happen."

The Co-op said its decision to accept Bitcoin at its MIT store is symbolic of its commitment to serving a student culture of leaders and thinkers from diverse backgrounds globally. Additionally, Bitcoin's elimination of credit card transaction fees offers the store a new way of passing on savings, the company said in the announcement.

"Students are the next generation technology leaders and we expect them to be at the forefront of new technology adoption like Bitcoin," said BitPay Co-founder and Executive Chairman Tony Gallippi. "As MIT and The Co-op are two of America's most historic examples of innovation, the adoption of Bitcoin continues this tradition."