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Rapper Jay-Z has shown love for leading cryptocurrency Bitcoin (CRYPTO: BTC) in the past and even used the crypto to help set up non-profits and community projects like The Bitcoin Academy, which was 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 area of New York where the rapper grew up.
“Shout out to @Jack. #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,” 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 the community with knowledge,” the website reads.
The program offers free classes to Marcy Houses residents, which includes lessons on Bitcoin and how people can build their own financial future. A Bitcoin Academy spokesperson told TechCrunch previously that participants in the program would be given a small amount of Bitcoin.
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The duo also launched a 500 Bitcoin investment to help grow cryptocurrency in regions like India and Africa.
While The Bitcoin Academy faced criticism at the time as cryptocurrency was highly volatile and the group of residents being targeted may not be able to handle the ups and downs of the sector, the cryptocurrency has posted a nice return since the project launched.
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