BitPay bitcoin payment processor, announced today that the MIT COOP is accepting bitcoin as payment, according to a press release. 

The MIT COOP already offers a bitcoin exchange in its store and now is the first major university bookstore to add the digital currency as a payment method. 

"The MIT COOP is the first campus-based business to respond to this student-led adoption, continuing its reputation as a cooperative by students and for students," Jerry Murphy, COOP president, said in a statement. "Once we decided to add bitcoin to our bookstore, we turned to BitPay to make it happen."

The COOP said its decision to accept bitcoin at its MIT store is symbolic of its commitment to serving a student culture of leaders and thinkers from diverse backgrounds globally. The store has been dedicated since its founding to lowering costs for students and bitcoin's elimination of credit card transaction fees offers the store a new way of passing on savings, the company said in the announcement.

"Students are the next generation technology leaders and we expect them to be at the forefront of new technology adoption like bitcoin," said Tony Gallippi, BitPay's co-founder and executive chairman. "As MIT and The COOP are two of America's most historic examples of innovation, the adoption of bitcoin continues this tradition."