Is the news that the University of Hong Kong accepts Bitcoin for tuition fees "fake news"? The dean: The technology is set but not yet implemented.

Many Chinese social media posts incorrectly claim that the Hong Kong University Business School will begin accepting Bitcoin for tuition and donations starting this September. Similar content has been widely circulated on Chinese social media platforms such as Xiaohongshu, and these statements are mostly published by study abroad intermediary accounts. In fact, on August 27, Dean Cai Hongbin only mentioned exploring possibilities at a forum, stating that “the technical details have basically been confirmed” but did not mention an implementation timeline.

Misleading information from study abroad intermediaries spreads, rumors circulate on social media

A post on X claimed on August 31 that the Hong Kong University Business School “will now accept Bitcoin for tuition and donations.” In September, similar content was widely circulated on Chinese social media platforms like Xiaohongshu, indicating that the university has begun to accept Bitcoin payments. Most of these statements were made by overseas study intermediary accounts. Korean users on the X platform also saw similar claims.

This kind of large-scale misinformation highlights the issue of information distortion in the social media era. Study abroad intermediary accounts often exaggerate or distort news to attract attention and customers, packaging “exploring” as “already implemented.” This kind of misleading not only harms the accuracy of information but may also cause confusion for students who are actually considering using Bitcoin for payments.

After the announcement, it quickly sparked heated discussions among netizens. Some students were astonished by HKU's foresight, while others jokingly asked, “Can I exchange my tuition for 0.5 Bitcoin?” Even more netizens humorously commented, “The business school really knows how to make money; originally earning 500 million a year, with Bitcoin, they might accidentally earn 1 billion more.” These reactions indicate the public's high interest in the application of Bitcoin payments in the education sector, but also mix in speculative mindset and concerns about volatility.

This statement seems to originate from the remarks of the dean of the college, but these intermediaries and users appear to have misunderstood his comments. As of now, the HKU Business School has not officially announced the acceptance of Bitcoin payments. The confusion between “exploring” and “implementing” is the core reason for the spread of rumors. The nature of social media dissemination makes sensational headlines easier to attract attention than accurate details, leading to continuous distortion of information during the transmission process.

The director's remarks were misinterpreted, only expressing the willingness to explore

(Source: Xiaohongshu Edit, Author: winston Yan)

On August 27, Dean Cai Hongbin mentioned the possibility of accepting cryptocurrency payments for tuition and donations at a university-hosted forum, and a few days later, this statement spread online. Annie Lab found a speech excerpt posted by a Xiaohongshu user, which mentioned that the school is exploring the use of cryptocurrency for payments and donations. He went on to say, “The technical details have basically been confirmed.” However, he did not mention when the plan would be implemented.

Director Tsai's statement is actually relatively cautious. “Exploring” means being in the research and evaluation stage, and “technical details have basically been determined” may indicate that the technical feasibility has been verified, but there is still a significant distance to formal implementation. Implementing a new payment method requires multiple steps: technical testing, risk assessment, regulatory approval, internal decision-making processes, system integration, employee training, and so on. Director Tsai's remarks only indicate that the technical obstacles have been resolved, but do not mean that all other steps have been completed.

In response to doubts, the dean of the college, Cai Hongbin, has publicly stated that the technical details involved in the Bitcoin payment method have been resolved. He even humorously remarked, “If we lose money, it counts as the management school's, and if we make money, it counts as HKU; at least let us give it a try.” This humorous statement shows that the dean has an open attitude towards this plan and is willing to take risks to experiment. This spirit of innovation is commendable, but it also highlights that Bitcoin payments in the higher education sector are still in the experimental stage.

An article published by the South China Morning Post (SCMP) on August 30 reported on the same forum. A spokesperson for the business school informed the newspaper that the institution is “actively exploring” Bitcoin payment options. “Actively exploring” is an official term that generally means the project is being seriously considered, but no final decision has been made yet. This is clearly distinct from “already accepted” or “coming soon.” Media and the public need to be more cautious when interpreting such statements.

Official payment instructions do not list cryptocurrency, rumors dispelled on their own

(Source: Office of Finance and Enterprises, The University of Hong Kong)

Annie Lab reviewed the tuition payment instructions for this academic year starting in September at the school, which listed acceptable payment methods such as bank transfer, check, FPS, WeChat Pay, and Alipay. Bitcoin or other cryptocurrencies are not included. The review of this official document is key evidence to debunk the rumors. If HKU truly accepted Bitcoin payments, it would certainly be clearly listed in the official payment instructions, including specific operational procedures, wallet addresses, or payment platforms.

This method of fact-checking is worth promoting. When seeing sensational news on social media, the most reliable way to verify it is to refer to official websites and formal documents. The statements from study abroad intermediaries or self-media may exaggerate facts for commercial purposes or to pursue traffic, and only official channels can provide authoritative information.

If the University of Hong Kong really implements Bitcoin payments, the specific operation process may include: students selecting the “cryptocurrency payment” option in the payment system, the system displaying the current exchange rate and the amount of Bitcoin to be paid, students transferring from their personal wallets to the designated address of the University of Hong Kong, and after the transaction is confirmed, the system automatically marking the tuition fee as paid. In addition, it is necessary to deal with complex issues such as exchange rate fluctuation risks, immediate conversion to fiat currency or holding Bitcoin, tax reporting, and accounting processing.

0.25 BTC Tuition Calculation and Global Precedent Comparison

According to the latest information published on the official website of the University of Hong Kong, the tuition fee for non-local undergraduate students in STEM majors for the 2025 academic year is 218,000 HKD, while the tuition fee for non-STEM majors is 198,000 HKD. Calculated based on the price of Bitcoin, STEM majors cost about 0.25 Bitcoin, and non-STEM majors cost about 0.23 Bitcoin. However, this figure will continue to change with fluctuations in the Bitcoin market price.

This conversion highlights the core challenge faced by Bitcoin payments in the education sector: price volatility. If a student decides to pay tuition when the Bitcoin price is $100,000, but when the actual transfer occurs the price drops to $90,000, the student has to pay more Bitcoins. Conversely, if the price rises, the student can pay less. This uncertainty makes Bitcoin payments less friendly for both students and schools.

Looking globally, schools that dare to do this are very rare. Harvard University holds Bitcoin worth over a hundred million, yet it has not accepted it for tuition payments. Although HKU is not the first to do so, earlier universities such as the University of Cyprus and the University of Lugano in Switzerland have already accepted cryptocurrency payments, demonstrating an open attitude towards digital currency in the education sector.

The University of Cyprus is one of the first universities in the world to accept Bitcoin for tuition payments, having started this initiative as early as 2013. The University of Lugano in Switzerland has collaborated with the local government to transform the city of Lugano into a “cryptocurrency capital,” not only accepting Bitcoin for tuition payments but also allowing citizens to pay taxes and purchase public services using Bitcoin. These precedents provide a reference for HKU, but also demonstrate that implementing Bitcoin payments requires collaboration among the government, financial institutions, and universities.

However, such attempts are still in the early stages, and the supporting mechanisms are not yet mature. Although this move by the University of Hong Kong is innovative, it is necessary to establish a sound risk warning mechanism and technical support system during the practical process to help students use this Bitcoin payment method rationally. Possible supporting measures include: real-time exchange rate locking mechanism, volatility hedging solutions, backup plans for payment failures, and clear refund policies.

The Hong Kong University of Science and Technology Business School supports Bitcoin payment for tuition, marking that cryptocurrency is entering the sights of top higher education institutions in Asia. This measure is not only symbolic but also conveys an important message to the market: Bitcoin is gradually transforming from an investment asset to a payment tool recognized by mainstream institutions. The process of practical application of cryptocurrency is accelerating globally. It can be anticipated that more universities may follow suit in the future.

In any case, this initiative not only breaks the boundaries of traditional higher education but also demonstrates the strategic vision and innovative spirit of the University of Hong Kong in the digital age. Of course, the Hong Kong University Business School's consideration of accepting Bitcoin for tuition payments is not merely a gimmick to attract attention, but a forward-looking response to the trends in fintech development.

For students, Bitcoin payments provide a new option, especially for international students holding cryptocurrency, as it can avoid complex cross-border remittance processes and high fees. For the University of Hong Kong, this is an opportunity for brand innovation and a practical case of financial technology education. Business school students can experience the application of cryptocurrency in real scenarios, which is itself a valuable educational resource.