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rapper jay-z has shown love for the leading cryptocurrency bitcoin (CRYPTO: BTC) in the past and even used crypto to help establish community and non-profit projects like The Bitcoin Academy, which launched in June 2022 with Jack Dorsey.
What happened: Jay-Z and Dorsey announced on June 9, 2022 that they would launch The Bitcoin Academy on June 22, 2022, adding a community initiative to help support the New York area where the rapper grew up.
“Shout out to @Jack. #Bitcoin Academy, starting in Marcy, a place that taught me a lot, I hope it will be the first of many. The simple goal is to provide people with tools to develop their independence and then the community that supports them. surrounds,” Jay-Z tweeted.
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According to the company’s website, The Bitcoin Academy is about “the future of money.”
“Education is power. Shawn ‘Jay-Z’ Carter and Jack Dorsey are personally funding The Bitcoin Academy, a program for residents of Marcy Houses, in Brooklyn, New York, where Jay grew up. This program aims to provide education and empower to the community with knowledge,” the website reads.
The program offers free classes to Marcy Houses residents, including lessons about Bitcoin and how people can build their own financial future. A spokesperson for Bitcoin Academy previously told TechCrunch that participants in the program would receive a small amount of Bitcoin.
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The duo also launched a 500 Bitcoin investment to help grow cryptocurrencies in regions like India and Africa.
While the Bitcoin Academy faced criticism at the time because the cryptocurrency was very volatile and the group of residents it targeted may not be able to handle the ups and downs of the sector, the cryptocurrency has recorded good performance since the launch of the project.
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