Dubai school accepts Bitcoin, Ethereum as it breaches $48,000

Sahana Kiran
Source – Unsplash

Bitcoin [BTC] has managed to veer into multiple industries over the last couple of months. Now, the world’s largest cryptocurrency has found its way into the education system of Dubai.

From being disregarded as crypto associated with the dark web to emerging as an asset that has made it to schools, Bitcoin sure does have an inspiring story. Despite not attaining support from government officials across the globe, BTC managed to make its way to the top. Now, Citizens a brand new school in Dubai is setting up a portal for parents who are crypto lovers.

According to the latest reports, the school will reportedly accept Bitcoin as well as Ethereum [ETH] for tuition fees.

The school has partnered with a crypto payments processor that would ease the conversion of crypto into Dirhams [AED].

Citizens jumped onto the Bitcoin bandwagon following the mainstream adoption of the cryptocurrency. The founder of the school, Dr. Adil Alzarooni said,

“By introducing this new payment facility, we look forward to enhancing the role of young generations in achieving the UAE’s digital economy. As more people embrace the era of digitalization, today’s children will become the entrepreneurs and investors of tomorrow.”

Off late, Dubai seems to be diving deep into the crypto-verse. An array of platforms have been viewing Dubai as a potential crypto hub.

Bitcoin surges over $48K for the first time in 2022

BTC had been maintaining a low profile right from the start of this year. While meme coins took the front stage, Bitcoin did not witness any major changes. However, the asset’s recent jump to $47K was widely lauded by the community.

The world’s largest cryptocurrency wanted to push its limit. As a result, BTC soared over $48K for the first time in 2022. The asset surged to a high of $48,086.84. However, during press time, BTC retraced and was trading for $47,570.18 with a dainty increase of 1.32 percent.

In addition to its price, Bitcoin had reclaimed its $900 billion market cap.