A college education is very expensive, nowadays. The average student in the U.S. walks away owing more than $32,000 following the obtainment of their bachelor’s degree, and one father is looking to bitcoin to ensure his one-year-old daughter can attend school without dealing with notorious levels of debt.
Bitcoin Will Pay for a Young Girl’s College Tuition
Bitcoin has been traveling north as of late and experienced a serious price bump in 2019. Despite peaking in the summer of that year and falling into the $7,000 range by the time Thanksgiving rolled around, the currency still ended 2019 having doubled where it was during the first three months.
Peter Bowles has taken notice of bitcoin’s good fortune and is utilizing it for a good cause. His daughter Izabella is only one year old, and already her dad has managed to put away more than $8,000 in BTC for her college education by investing in bitcoin.
The funds are remaining in a separate account and are not meant to be utilized or spent prior to her 18th birthday. Once Izabella reaches this age, the money he has now – and whatever he accumulates through then – will be used to take care of what will no doubt be some hefty tuition bills.
Peter says that he finds himself excited by the prospects of bitcoin, explaining:
I wouldn’t have predicted 18 years ago there would be kids reviewing toys on YouTube and making millions… I feel like that about bitcoin. It’s hard to imaging how Izabella will be using bitcoin when she goes to college and how it will have changed the world, but I hope that when she’s 18, colleges might even accept bitcoin for fee payments.
Interestingly, Peter did not attain the vast bitcoin sum he has now through any personal means. Rather, it arrived through some very generous donations. He posted a note in a London newspaper, explaining what he was trying to do for his daughter when she was born. He also posted the bitcoin address he had obtained, and asked individuals to open their hearts (and their digital wallets) and donate. At the time of writing, the address has garnered more than 300 separate contributions.
A New Investment Strategy?
He explains:
I think bitcoin is a more interesting way of doing something like this than other alternatives… Often, people in those have somehow bought shares in Microsoft or Apple in the early days and this funded their crackpot schemes in the future… Indeed, the year I was born, both Nike and Apple went on the stock market the same month (December 1980). I’ve always thought it’s a fun idea to set up a fund for someone when they’re born. In Britain, a lot of people do National Savings Bonds which are a pretty useless investment.