- The philanthropic initiative helped educate some of Marcy’s residents about the Bitcoin network
- BTC price at the time of writing – $19,227.48
- BTC Market Cap – $368,216,304,665
Bitcoin Academy, the Bitcoin education program created by Jack Dorsey and Jay Z (Shawn Carters), has completed its first iteration.
The initiative ended after 12 weeks by throwing $1,000 in bitcoin out of the air to everyone who decided to give a grant.
The entire program, including the last drop of air, was personally funded by both Jay-Z and Jack Dorsey, according to Business Insider.
Jack and Jay Z’s parting gift
An email from Jay’s mother revealed that over 350 Marcy residents participated in the program, although the exact number of people who received the airdrop is unknown.
In early June, it was announced that the Bitcoin Academy will be an in-person program educating and providing resources to residents of Marcy Houses, New York — where Jay Z grew up. From June 22 to September 7, it was in effect.
Back then, organizers made it clear that attendees would get free smartphones, year-long data plans, and MiFi devices. Some residents were enticed to participate because of the free child care and other benefits of the program. The bitcoin gift, however, came as a last-minute surprise gift.
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Academy students have not been pressured into buying bitcoin in any way
What the Program Taught Some of the courses taught at the event were Wealth Building and Wealth, Why Decentralization Matters, Protecting Yourself from Scammers, Bitcoin & Taxes and Careers in Crypto. Records of all courses are still available online, but only for Marcy residents.
He observed that many of the residents, once explained to them, were able to understand even highly technical concepts such as bitcoin mining.
Additionally, they were taught how Bitcoin can be used to create generational wealth, which was well received by many participants.
Wilson was particularly intrigued by the way historically oppressed groups can use Bitcoin to protect their assets from confiscation. Mariela Regalado, a Marcy resident, recognized bitcoin as a way to secure her daughter’s financial future.
Wilson and Regalado both stressed that the academy’s students are simply being taught about Bitcoin and that they are under no obligation to do so. According to Regalado, it always felt like we were at a family dinner, and this cousin who discovered Bitcoin told everyone else about it.