Another Score for Bitcoin: You Can Now Use It to Pay for CollegeUniversity of Nicosia in Cyprus announced today that it will accept the digital-only currency as legal tender for tuition and fees.

ByCatherine Clifford•Nov 21, 2013

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Today marks another notch in the belt forBitcoinbelievers.

TheUniversity of Nicosia in Cyprushas become the first accredited university to accept Bitcoin for payment of tuition and associated fees, it announced in a statement today.

It's been a good week for Bitcoin. Earlier this week, aSubway franchisee started accepting Bitcoin as payment for sandwiches. And last week,Silicon Valley entrepreneurs and investors launched an acceleratorfocusing specifically on the digital currency.

The English-language University of Nicosia, which across all of its affiliated institutions has more than 8,500 students from across the globe, says that the trend toward Bitcoin is inescapable.

"We are acutely aware that digital currency is an inevitable technical development that will lead to significant innovation in online commerce, financial systems, international payments and remittances and global economic development," said Dr. Christos Vlachos, member of the Council of the University of Nicosia and the University's chief financial officer, in a written statement. "In this light, we consider it appropriate that we implement digital currency as a method of payment across all our institutions in all cities and countries of our operations."

Catherine Clifford

Senior Entrepreneurship Writer at CNBC

Catherine Clifford is senior entrepreneurship writer at CNBC. She was formerly a senior writer at Entrepreneur.com, the small business reporter at CNNMoney and an assistant in the New York bureau for CNN. Clifford attended Columbia University where she earned a bachelor's degree. She lives in Brooklyn, N.Y. You can follow her on Twitter at @CatClifford.