Howard Winklevoss gifts $4m Bitcoin donation to Grove City College

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 a $4 million Bitcoin donation.

According to a Grove City press release, this contribution is the college’s first donation in Bitcoin (BTC) and aims to support business programs and ensure the institution can continue to provide quality education.

Winklevoss, a 1965 graduate, is a prominent academic and entrepreneur with a background in actuarial science and business technology. His career includes founding multiple companies, including Winklevoss Consultants and Winklevoss Technologies, which sold for $125 million in 2023.

Grove City College is a private liberal arts institution located in Pennsylvania and is known for its commitment to free market economics and independence from federal funding.

Winklevoss credits his Pennsylvania school education with shaping his career. While at the college, he met his wife, Carol, a 1965 graduate.

Winklevoss and Bitcoin

Winklevoss became interested in Bitcoin in 2012 when his twin sons, Tyler and Cameron, introduced him to it.

Tyler and Cameron are well-known crypto entrepreneurs known for 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 learned about from economist Dr. Hans Sennholz at Grove City College. Sound money refers to a monetary system that cannot be easily manipulated or controlled by governments.

“I first learned about and became interested in sound money while studying at Grove City College under Professor Dr. Hans Sennholz, a free market, Austrian School economist and student of 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 accomplished. He had encoded these principles that had been thought about for over a century into digital money. So I am delighted to donate the world’s soundest money to the school that first taught me these concepts 60 years ago.”

Howard E. Winklevoss

The donation is part of a growing trend of using Bitcoin as a charitable gift to institutions. While Bitcoin is often viewed as a speculative digital asset, it has gained traction due to its decentralized nature, which allows transactions to be made without the need for a central authority like a bank.

Grove City College, known for its free-market philosophy, does not accept federal funding, and private donations like Winklevoss’ are critical to the school’s operations.

The Winklevoss School of Business will focus on disciplines such as Accounting, Finance, Marketing and Entrepreneurship. Winklevoss hopes his donation will inspire future students to pursue excellence and make a positive impact in their fields.