Jack Dorsey’s Bitcoin Academy Airdrops $1000 in BTC to All Attendees
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The first iteration of The Bitcoin Academy – Jack Dorsey and Jay Z’s (Shawn Carters) Bitcoin training program – has come to an end.
After 12 weeks, the initiative ended with a $1,000 bitcoin drop for all participants who chose to receive the grant.
Jack and Jay Z’s parting gift
Like reported According to Business Insider, both Jay-Z and Jack Dorsey personally funded the entire program, including the final airdrop. While it’s unclear how many people received the airdrop, an email from Jay’s mother revealed that more than 350 Marcy residents participated in the program.
“Marcy residents showed up,” he said. “It is also important to provide the necessary resources such as dinner, child care, equipment, internet access, dedicated staff and instructors so that as many people as possible can participate in person and online.”
Bitcoin Academy was announced in early June as a one-on-one program to deliver Bitcoin education and resources to residents of Marcy Houses, New York – where Jay Z grew up. It lasted from June 22 to September 7.
The organizers were transparent at the time that participants received various prizes, including free MiFi devices, one-year data plans and smartphones. Other benefits, such as the program’s free childcare, attracted certain residents to join. However, the Bitcoin gift was a last-minute surprise.
What the program taught
Some of the courses covered at the event included titles such as “Wealth Building and Assets,” “Why Decentralization Matters,” “Staying Safe From Scammers,” “Bitcoin & Taxes,” and “Careers in Crypto,” among others. All courses were recorded and are available online – but only for Marcy residents.
“A lot of times information doesn’t get out into our community,” explains Lamar Wilson, director and founder of the Academy. Black Bitcoin Billionaire. “Not because people are intentionally discriminating, but because they’re not intentionally seeking information.”
As he noted, many of the residents were able to understand even complex and technical concepts such as Bitcoin mining once they were explained to them. They were also taught how Bitcoin can be used as a tool to build “generational wealth,” which resonated with many attendees.
In particular, Wilson was interested in how Bitcoin can be a tool for historically oppressed groups to protect their assets from confiscation. One Marcy resident – Mariela Regalado – recognized Bitcoin as a tool that could help secure her daughter’s financial future.
“I’m stacking stacks for him and I probably couldn’t say that in June before the Academy, but now I can because now I know what it all means,” she said.
Both Wilson and Regalado stressed that Academy students were in no way pressured to buy or exchange Bitcoin, but were simply educated about it. “It always felt like we were at a family dinner, and it was like the cousin who discovered Bitcoin was telling everyone else about it,” Regalado said.
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