Jack Dorsey, Jay-Z’s Bitcoin Academy to teach financial literacy to residents of Brooklyn housing project

Twitter co-founder and Block CEO Jack Dorsey and rapper Shawn “Jay-Z” Carter are teaming up to launch Bitcoin Academy, an educational program designed to teach participants about financial literacy and the biggest crypto- currency in the world.

Jack Dorsey and Jay-Z have teamed up to launch the Bitcoin Academy. (REUTERS/Andrew Kelly/Cole Burston/Bloomberg via Getty Images) ((REUTERS/Andrew Kelly/Cole Burston/Bloomberg via Getty Images))

The free classes, which will be offered in-person and online from June 22 through September 7, are exclusively for residents of the Marcy Houses complex in Brooklyn, New York, where Jay-Z grew up. The Bitcoin Academy plans to eventually expand to other neighborhoods in the future.

In-person classes will take place two evenings per week and will serve dinner to participants. A “Crypto Kids Camp” program will also take place on two Saturdays for Marcy’s children and teens ages 5-17. The academy will provide participants with MiFi devices and a one-year limited data plan, as well as smartphones if needed.

A Bitcoin Academy spokesperson confirmed to FOX Business that the program will include topics such as “What is money?”, “What is cryptocurrency?”, “What is is Blockchain? and “How to protect yourself from scammers”.

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The Bitcoin Academy is made possible by grants from Dorsey and Jay-Z and on-the-ground support from Block and the Shawn Carter Foundation. It is designed in collaboration with Crypto Blockchain Plug and Black Bitcoin Billionaire.

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“Bitcoin is becoming an essential tool for many people in Africa and Central and South America. We believe the same potential exists within communities in the United States,” Dorsey tweeted with a link to the official Bitcoin website. academy. “Our goal is to prove that making powerful tools more accessible to people allows them to build greater autonomy.”

“The Shawn Carter Foundation has always been about providing access to education and opening doors for underserved communities. No one should be left behind or left behind,” added Jay-Z’s mother, Gloria Carter, in a statement posted on Instagram. “We really appreciate partnering with Block and Jack Dorsey to bring financial education, especially Bitcoin to the residents of Marcy, where I spent many years raising my family. Everyone should be empowered to make informed financial decisions to take care of themselves and their families.”

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The launch of the academy comes at a volatile time for the cryptocurrency market.

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Cryptocurrency exchange Gemini recently cut its staff by 10% as it prepares for a “crypto winter” or “shrinkage phase settling into a period of stasis.” Meanwhile, Coinbase extended a hiring hiatus and began canceling some accepted job offers.

Bitcoin bounced from an all-time high of $68,990.90 per coin in November 2021 to a 52-week low of $25,402.04 per coin in May. It is currently trading above the $28,000 per coin level at press time.