Home International News Jay-Z's Bitcoin Academy Is Far From A Hit

Jay-Z’s Bitcoin Academy Is Far From A Hit

Musician and mogul Jay-Z has long talked about his roots in the Marcy Houses. In an effort to give back, he started a program exclusively for the approximately 2,300 residents of the New York City Housing Authority apartments in the Bedford-Stuyvesant section of Brooklyn. The Bitcoin Academy’s agenda, according to its website, is to “provide education, educate the community and remove some barriers so that residents can learn more about Bitcoin in particular and about finance in general.”

The timing couldn’t be worse, with Bitcoin suffering a “record-breaking defeat” according to Bloomberg. The cryptocurrency has fallen from a value of nearly $51,000 six months ago to $18,809 today. Other currencies, such as Etherium, suffer the same fate. Bloomberg reports that traders are “bracing for the next crisis”.

As the guard reports, that message has seemingly gotten through to potential participants of The Bitcoin Academy. “People don’t want to invest money knowing they might lose it,” says a 58-year-old retiree. Myra Raspberry told the newspaper. “Every dime I get has to go to rent, phone, TV and internet. I don’t have that much money to lose. If I did, I’d try to invest in something more reliable, like last night’s basketball game You know I’m going to gain something from that,” she continued.

The Academy will reportedly give students a small amount of cryptocurrency – “about $20-$25” – upon completion of the course to begin trading. But the program, co-sponsored with Twitter founder Jack Dorseydoesn’t seem to arouse much enthusiasm. A 24-year-old resident called Nyashia Figueroa suggested, “If you want to do something, fix this place.” She added, “We have a basketball court with no hoops. Our parks are broken up here. He should be doing more for his community, not no Bitcoin Academy.”

In recent years, Jay-Z had returned to the Marcy Houses to deliver Christmas gifts, but Figueroa reports that it’s been a while since he appeared. “This is where he comes from and all, but he doesn’t do anything for us,” she said.

Nevertheless, The Bitcoin Academy website declares itself to represent “the future of money”, and participants will be provided with smartphones and MiFi devices, which they can keep if necessary. There is also a “Crypto Kids Camp” for children from 5 to 17 years old.

Twitter content

This content can also be viewed on the site it arises from from.

RELATED ARTICLES

Ukraine and Moldova gain EU candidate status but face a long road to full membership

Ukraine has been fighting for its existence for four months. Ukraine has successfully forced Russia to shift its focus from a four-front offensive...

‘Personal’ donations to Liberal Party came from vaping lobby during policy debate

A national vaping lobby group donated a total of $44,000 to the Liberal Party, but the money was declared as personal gifts by the...

Chinese Censors Scrub Internet After Senior Party Official Gives Speech on Beijing Zero-Covid Timeline

CNN† Chinese censors rushed to remove an apparently misleading quote from a senior Communist Party...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Ukraine and Moldova gain EU candidate status but face a long road to full membership

Ukraine has been fighting for its existence for four months. Ukraine has successfully forced Russia to shift its focus from a four-front offensive...

‘Personal’ donations to Liberal Party came from vaping lobby during policy debate

A national vaping lobby group donated a total of $44,000 to the Liberal Party, but the money was declared as personal gifts by the...

Chinese Censors Scrub Internet After Senior Party Official Gives Speech on Beijing Zero-Covid Timeline

CNN† Chinese censors rushed to remove an apparently misleading quote from a senior Communist Party...

Alc-Less is Canberra’s Capital Brewing Co.’s first non-alcoholic beer. † The Canberra Times

“In addition to perfecting the taste, we ran into a lot of challenges, including freezing the product in the tank because no alcohol was...