Jack Dorsey’s Bitcoin Academy Airdrops $1000 in BTC
- The philanthropic initiative helped educate some of Marcy’s residents to the Bitcoin network
- BTC price at time of writing – $19,227.48
- BTC market cap – $368,216,304,665
Bitcoin Academy, Jack Dorsey and Jay Z’s (Shawn Carter’s) Bitcoin education program, has completed its first iteration.
The initiative ended after 12 weeks by sending $1,000 in Bitcoin to everyone who chose to receive a grant.
The entire program, including the final airdrop, was personally funded by both Jay-Z and Jack Dorsey, as reported by 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 would be an in-person program that would educate residents of Marcy Houses, New York — where Jay Z grew up — about Bitcoin and provide them with resources. From June 22 to September 7, it was in effect.
At the time, organizers made it clear that attendees would receive free smartphones, one-year data plans and MiFi devices. Some residents were enticed to participate because of the program’s free childcare and other benefits. However, the Bitcoin gift came as a last-minute surprise.
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Students at the academy were in no way pressured to buy Bitcoin
What the program taught Some of the classes taught at the event included wealth building and assets, why decentralization is important, staying safe from scammers, Bitcoin and taxes, and careers in crypto. The recordings of all courses are still available online, but only to Marcy residents.
He made the observation that after being explained to them, many of the residents were able to understand even highly technical concepts such as Bitcoin mining.
In addition, they were taught how Bitcoin can be used to create generational wealth, which was well received by many participants.
In particular, Wilson was fascinated by the way historically oppressed groups can use Bitcoin to protect their wealth from being confiscated. Marcy resident Mariela Regalado recognized Bitcoin as a means of securing her daughter’s financial future.
Wilson and Regalado both emphasized that the academy’s students were simply educated about Bitcoin, and that they were under no obligation to do so. According to Regalado, it always felt like we were at a family dinner, and the cousin who discovered Bitcoin tells everyone otherwise.
Steve Anderson is an Australian crypto enthusiast. He has been a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralization, understanding the true potential of the blockchain.
