Search
Close this search box.

Jay-Z’s Bitcoin Academy in Brooklyn Projects Met with Backlash

jay-z

*Jay-Z announced on Twitter last Thursday that he’s set to launch a “Bitcoin Academy” in Brooklyn’s Marcy housing projects, where the rapper grew up.

The new financial literacy program called The Bitcoin Academy is a joint effort with Twitter co-founder Jack Dorsey, The Guardian reports. The program will offer free classes to Marcy Park residents, as well as devices, and data plans, per the report. There’s also a”Crypto Kids Camp” for children aged 5-17 to learn about cryptocurrency. 

“The vision for Bitcoin is that it doesn’t have barriers, but lack of access to financial education is a barrier. It’s still hard to use for everyday necessities. Plus, people need devices and data plans,” the program’s mission statement reads. “This program aims to provide education, empower the community with knowledge, and get rid of some of the barriers so that residents can learn more about Bitcoin specifically and finance in general.”

Instructors will “teach you about Bitcoin, how it works, why you should care, and how to build your own financial future,” the statement continues. 

READ MORE: DOJ Agrees with Jay-Z and Yo Gotti on the Poor State of Parchman State Prison | VIDEO

“Our goal is to prove that making powerful tools more available to people enables them to build greater independence,” Dorsey noted in a statement on Twitter announcing Bitcoin Academy. “Education is where we start. This isn’t just about bitcoin… it’s about long-term thinking, local economies, and self-confidence.”

The program will take place over 12 weeks but not everyone in Marcy Park is enthused about it.

“If you want to do something, fix this place up,” Nyashia Figueroa, a 24-year-old resident, told the Guardian. “We have a basketball court with no hoops. Our parks is broken up in here. He should be doing more for his community, not no Bitcoin Academy.”

As reported by The Root, the average household income in Marcy Park is $24,454 a year, according to the New York City Housing Authority,” so the stakes are significantly higher,” the outlet writes. 

“It’s kind of late to be doing that when people are trying to hold onto their dollars and everything is so expensive,” said 58-year-old retiree Myra Raspberry. “People don’t want to be investing money knowing that they might have a chance of losing it.

Raspberry added, “Every dime I get got to go to rent, phone, TV, and internet. I don’t have money like that to be losing on. If I did, I would try to invest in something that’s more reliable, like the basketball game last night. You know I’m going to win something from that.”

We Publish News 24/7. Don’t Miss A Story. Click HERE to SUBSCRIBE to Our Newsletter Now!

Donald Glover - screenshot
Prince (on motorcycle) Purple Rain
Obama - Biden (Getty)
Cheryl Tyler - screenshot
Beetlejuice Beetlejuice
Jagged Edge singer Brandon Casey
Fantasia singer
Gregory Gerami and FAMU President Larry Robinson resigns
Janelle Monae
Terrell Davis' wife
Thomas Matthew Crooks
Read More
Donald Trump shooting - bloody ear (screenshot)
Read More
Tejuana Johnson - via Facebook
Read More
Donald Trump in Butler PA as shots are heard - screengrab
Read More
Donald Trump being rushed from stage in Butler PA
Read More
Robin Allen as Miss Cleo - via Lifetime
Read More
Joy Reid - Amber Rose (MSNBC-Getty)
Read More
John Gotti - Donald Trump
Read More
Kadia Iman in scuffle with white educator during graduation ceremony
Read More
Paige Butcher and Eddie Murphy - Depositphotos
Read More

POPULAR

Donald Glover - screenshot
Donald Glover is Retiring Childish Gambino | VIDEO
Prince (on motorcycle) Purple Rain
Prince's Estate Rejects Netflix Documentary Over Nine-Hour Length
Obama - Biden (Getty)
Pressure Mounts! Obama and Pelosi Signal Doubts Over Biden’s 2024 Bid as Party Panic Grows | VIDEO
Cheryl Tyler - screenshot
Former Secret Service Agent Defends Female Agents Following Trump Assassination Attempt | WATCH
Beetlejuice Beetlejuice
Warner Bros. Releases Second Trailer for 'Beetlejuice Beetlejuice' | Watch
Jagged Edge singer Brandon Casey
Jagged Edge's Brandon Casey Suffers Broken Neck, 5 Broken Ribs, and Skull Fracture in Car Accident
Fantasia singer
Fantasia and Busta Rhymes Criticize Fans for Cell Phone Use at Concerts | Watch
Gregory Gerami and FAMU President Larry Robinson resigns
FAMU President Larry Robinson Resigns Amid Donation Controversy
Janelle Monae
Watch Janelle Monáe's Hilarious Parody of Michael Jackson's Iconic Balcony Moment
1 2 3 8,192