Jay-Z and Twitter co-founder Jack Dorsey gifts graduates from Bitcoin Academy with $1,000.
On Wednesday, Dorsey announced that he and Hov blessed each graduate with $1,000 in digital currency. The gifting came during the graduation ceremony earlier that night.
Dorsey, who’s also the CEO of Block Inc., says that the graduates will have complete control over how they choose to manage their money.
“At tonight’s graduation class, @sc and I offered each student a grant of $1,000 in bitcoin,” Dorsey wrote. “Students can save, spend, or send their bitcoin however they choose to keep investing in themselves.”
An update!
At tonight’s graduation class, @sc and I offered each student a grant of $1,000 in bitcoin. Students can save, spend, or send their bitcoin however they choose to keep investing in themselves.
Will continue updating this thread as time goes on… pic.twitter.com/xkzQc6sVux
— jack (@jack) September 7, 2022
Hov announced the launch of the academy in June. The school’s mission is to bring modern-day financial literacy to underprivileged communities, teaching courses on Bitcoin and cryptocurrency.
The classes are only available to residents of Marcy Projects in Brooklyn but have plans to expand to other neighborhoods.
“Shout out to @Jack,” Hov wrote in a rare tweet at the time. “#Bitcoin Academy, starting in Marcy, a place that taught me so much, is hopefully the first of many. The simple goal is to provide people tools to build independence for themselves and then the community around them.”
In 2021, Hov and Dorsey launched a $23 million Bitcoin fund focusing on developing teams in Africa and India. In addition, Hov also sold his majority stake in TIDAL to Dorsey’s Square Inc. for $302 million. The deal helped Hov increase his net worth by 40% to $1.4 billion.
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