Grove City College is set to rename its School of Business in honor of alumnus Howard E. Winklevoss, father of Tyler and Cameron Winklevoss, following his $4 million Bitcoin donation.Â
This contribution marks the college’s first gift of Bitcoin (BTC) and is aimed at supporting its business programs and ensuring the institution’s continued ability to provide quality education, according to a Grove City press release.Â
Winklevoss, a 1965 graduate, is a notable academic and entrepreneur with a background in actuarial science and business technology. His career includes founding multiple companies, such as Winklevoss Consultants and Winklevoss Technologies, which was sold for $125 million in 2023.
Grove City College is a private liberal arts institution in Pennsylvania, known for its commitment to free-market economics and independence from federal funding.
Winklevoss credits his education at the Pennsylvania school for shaping his career. He met his wife, Carol, also a 1965 graduate, during his time at the college.
Winklevoss and BitcoinÂ
Winklevoss became interested in Bitcoin when his twin sons, Tyler and Cameron, introduced him to it in 2012.
Tyler and Cameron are prominent crypto entrepreneurs known for co-founding the cryptocurrency exchange Gemini and advocating for the adoption of digital assets.
Howard saw a connection between Bitcoin and sound money principles, which he first studied under economist Dr. Hans Sennholz at Grove City College. Sound money refers to a monetary system that is not easily manipulated or controlled by governments.
“I first learned about and became fascinated with sound money at Grove City College while studying under Dr. Hans Sennholz, a free-market, Austrian-School economist and professor who studied under Ludwig von Mises…When my twin sons, Cameron and Tyler, introduced me to Bitcoin 12 years ago, I immediately recognized and understood what (Bitcoin inventor) Satoshi Nakamoto had achieved. He had encoded these principles, which had been contemplated for over a century, into digital money. It, therefore, gives me great pleasure to donate the world’s soundest money to the school that first taught me about these concepts 60 years ago.”
Howard E. Winklevoss
This donation is part of a growing trend of using Bitcoin as a charitable gift to institutions. Although Bitcoin is often seen as a speculative digital asset, it has gained traction due to its decentralized nature, which allows transactions without the need for a central authority like a bank.Â
Grove City College, known for embracing free-market economics, does not accept federal funding, making private donations like Winklevoss’ critical for its operations, according to the release.
The Winklevoss School of Business will focus on disciplines like Accounting, Finance, Marketing, and Entrepreneurship. Winklevoss hopes his donation will inspire future students to pursue excellence and make a positive impact in their fields.
