A suspiciously positive inside look at Jay-Z and Jack Dorsey’s Bitcoin Academy
Bitcoin Academy was not as well received as it should have been. The organization needs good press and got it. The Business Insider article “How Jay-Z and Jack Dorsey’s Bitcoin Academy is enabling financial inclusion and breaking down barriers to inequality” is positive and then some. Is it too cynical to be suspicious of a positive portrayal of a bitcoin institution in the mainstream media? Maybe, but this is just too positive!
When The Guardian stepped out of the way to report that the citizens of Marcy weren’t exactly thrilled with The Bitcoin Academy, we asked:
“Why is The Guardian, a British newspaper, reporting on The Bitcoin Academy from Marcy’s project area? Of course it’s worldwide news, but the accusatory tone of the article seems suspicious.”
And well, this other article feels suspicious too. Even if everything they say in it is real.
The article’s protagonists are Marcy resident Mariela Regalado and Bitcoin Academy instructor Lamar Wilson, of Black Bitcoin Billionaire fame. To paint as clear a picture as possible, we use their quotes verbatim.
Welcome to Bitcoin Academy
When Bitcoinist first discussed the projectwe informed:
“One of the biggest barriers for people to learn about Bitcoin is access to the internet and devices. For that reason, participants will receive MiFi devices and a one-year limited data plan with smartphones ‘if needed.’
Participants will be able to keep the devices provided by Bitcoin Academy. Those residents of Marcy Houses who wish to participate in the in-person classes will be served dinner.”
What sounded like benefits turned out to be important adoption factors. Marcy resident Mariela Regalado, according to Business Insider, “said a major selling point was that the program offered free childcare for her young daughter, giving her the opportunity to participate as a single mother.” The publication makes sure to mention that “both Wilson and Regalado made a point to emphasize that students in the program were not pressured to buy or sell bitcoin or other cryptocurrencies.”
They even go so far as to say, “Regalado designed the program as ‘the pure and fun, educational journey that I have to do with my neighbors.’
Some of the courses that Marcy residents took
- “Wealth Building and Assets”
- “Why decentralization is important”
- “Stay safe from scammers”
- “Bitcoin and Taxes”
- “Careers in Crypto”
Quotes from Bitcoin Academy
To drive the people “not to be pressured to buy or sell bitcoin,” Bitcoin Academy instructor Lamar Wilson said:
“Because I understand the information and I can break it down into a language that other people can understand, especially people where I come from, I feel like it’s almost my duty to make sure I get the information to them, and it’s not like to recommend them to buy bitcoin or try to get them to invest all their money or something like that. It’s just really, let me provide the information and let you as a very intelligent being make your own decisions.”
To answer the first setbackBusiness Insider got Mariela Regalado to do the dirty work:
“It’s almost like everyone in the comments and that backlash, they were focused on the scarcity. Like, hey, thanks. We know what we’re missing out on. We know what poverty is like, because we’re in it. That doesn’t mean we have to keep at it, and that does not mean that we are not worthy of messages that have led other people and other races to advance or become rich.”
As you can read she did a phenomenal job. Regalado also painted a picture of the Bitcoin Academy scene that is a sight to behold:
“The community aspect was really one of the most important factors for me, because we’re talking teenagers, veterans, elders, millennials, and I can’t think of anything else so far that would have connected so many voices, so many intergenerational voices to sit and learn and share in the community. And I honestly can’t think of any areas where we can do that.”
BTC price chart for 09/09/2022 on FX | Source: BTC/USD on TradingView.com
Closing remarks by Ms. Gloria Carter
The president and co-founder of The Shawn Carter Foundation, Ms. Gloria Carter AKA Jay-Z’s mother, sent Business Insider a statement. The beginning successfully sums up this entire article in a few sentences:
“Marcy residents showed up. The over 350 people who attended Bitcoin Academy courses told us that this education is important to them – and that it means something. What also matters is providing the necessary resources such as dinner, childcare, devices, internet access, dedicated staff and instructors so that as many people as possible can participate in person and online.
All in all, this is one of the most positive bitcoin-related articles the mainstream media has ever published. It smartly answered all the criticisms talked about, one by one. Let’s hope the trend continues and gets to a point where it doesn’t seem suspicious.
Featured Image: Bitcoin Academy students, screenshot from the site | Charts by TradingView
