If you live in New York and want to send your preschoolers to one of the city’s two Montessori luxury preschools, don’t expect to put those tuition costs on your credit card. The schools don’t accept that form of payment. However, Montessori Schools co-founder Marco Ciocca wants you to know that the Montessori schools in Flatiron and Soho will be more than happy to accept your Bitcoin. In fact, they now accept Bitcoin, Ethereum, and Litecoin as payment options.
According to Ciocca, Montessori began accepting those digital currencies at the beginning of June. The decision was reportedly made after requests from several parents who wanted to use some portion of their cryptocurrency holdings to pay for tuition. Ciocca told Motherboard that Montessori has already had ten of its client families either pay using Bitcoin or commit to doing so. He expects that usage to increase in the future, because of the currency’s “transactional ease.”
Ciocca also suggested that this payment option could prove advantageous for anyone who bought Bitcoin before its most recent price increase:
"Parents who were early adopters are now able to take advantage of the appreciation of their digital assets and use them to pay for their children's education, something that will ultimately have a lifetime impact on their families.”
Montessori has apparently set up a Coinbase account to process payments and convert that Bitcoin into fiat currency, rather than attempt to profit from any future increase in the coin’s value. Meanwhile, Ciocca – a longtime fan and digital currency investor – is reportedly eager to see his family’s two Florida schools embrace the same tuition option.