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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 create non-profits and community projects such as 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 be launching 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 has taught me so much, is hopefully the first of many. The simple goal is to give people tools to build independence for themselves and then for 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 personally fund 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 support the community with knowledge,” according to the website.
The program offers free classes to Marcy Houses residents, including classes on Bitcoin and how people can build their own financial futures. A spokesperson for the 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 cryptocurrency in regions such as India and Africa.
Although the Bitcoin Academy was criticized at the time because cryptocurrency was highly volatile and the population it targeted may not have been able to handle the ups and downs of the sector, the cryptocurrency has seen nice returns since the project’s launch .
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Invest $1,000 in Bitcoin: Investors who read about Jay-Z and Dorsey’s project may have wanted to learn more about the leading cryptocurrency themselves and make a small investment.
Bitcoin traded at a high of $20,835.75 on June 22, 2022 when The Bitcoin Academy was launched.
See also: Dogecoin Millionaires on the Rise – investors with $1M+ in DOGE revealed!
An investment of $1,000 in the leading cryptocurrency at the time could have bought 0.04799 BTC. The $1,000 investment would be worth $3,672.13 today, based on a price of $76,518.55 for Bitcoin at the time of writing.
This represents a return of 267.2% over the past almost two and a half years.
While Bitcoin’s future remains up in the air, an election victory will be over in 2024 Donald Trump offers optimism that the United States government will be more welcoming to cryptocurrency regulation and adopt more pro-crypto friendly policies.
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This article If You Invested $1,000 In Bitcoin When Jay-Z and Jack Dorsey Opened Bitcoin Academy, Here’s How Much You’d Have Now originally appeared on Benzinga.com
