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Currencies BitCoin Bitcoin: MIT to Give $100 in BTC to Each Undergrad

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Bitcoin is barely up today, quoted at $434 after opening the day at $432.85 on BTC-E. Prices are trading slightly higher on BitStamp at $446.18.

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Two MIT students raised half a million dollars for a project that plans to give $100 in bitcoins to every undergraduate student that attends MIT this fall. The students are Jeremy Rubin, a sophomore studying computer science at MIT, and Dan Elitzer, founder and President of the MIT Bitcoin Club. Plans for the MIT Bitcoin Project include studying how the students use the bitcoin they receive, as well as spurring academic and entrepreneurial activity within the university. The $500,000 already pledged will cover giving enough bitcoin to all 4,528 undergraduates.

‘’Giving students access to cryptocurrencies is analogous to providing them with internet access at the dawn of the internet era’’: said Jeremy Rubin.

The project is also organizing the MIT Bitcoin Expo on Saturday, May 3rd. The event will feature presentations and technical workshops from prominent figures within the Bitcoin community, including Gavin Andresen, Chief Scientist and Board Member of the Bitcoin Foundation; Sean Neville, Co-Founder and Chief Technical Officer of Circle Internet Financial; Alan Reiner, Founder and Chief Executive Officer of Armory Technologies; Ryan X. Charles, Software Engineer at BitPay; and James D’Angelo, Founder and Host of the World Bitcoin Network.

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