JAY-Z and former Twitter founder Jack Dorsey are teaming up to teach financial literacy, but they face some criticism.
JAY-Z and Dorsey have teamed up for The Bitcoin Academy
Teaching financial literacy in underserved communities should always be a good thing, especially about cryptocurrency. JAY-Z and Dorsey have teamed up for The Bitcoin Academy, a bitcoin-focused financial literacy program that HOV and Dorsey want to bring to the residents of the rapper’s old stomping grounds, Marcy Projects.
JAY-Z and Jack Dorsey are no strangers when working with each other. Dorsey’s digital-payments company Block (née Square) purchased a majority stake in Jigga’s streaming service Tidal in 2021. The two partnered up by combining their bitcoin holdings to fund a trust with the sole purpose of promoting the use of cryptocurrency in Africa and India.
Now, JAY-Z and Dorsey want to teach folks in the hood about crypto and how to capitalize on the digital currency craze. According to the academy’s website, the classes will “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.”
It’s Not All Good In The Hood
Bitcoin influencers Lamar Wilson and Najah J. Roberts will take on the task of schooling the Marcy Project residents on all things crypto. Wilson and Roberts will teach them “about Bitcoin, how it works, why you should care, and how to build your own financial future.”
Sounds good right?
Well, some are not feeling the academy is putting all of its focus on bitcoin. “Setting up a bitcoin academy just as the crypto bubble burst… fucking scammers,” one Twitter user wrote.
“There are about 4300 residents living in Marcy projects. Jay could’ve given them each at minimum $500 and it would cost him $2.1m which is a drop in the bucket when held next to his $1.3b net worth. But instead they get Bitcoin academy fliers in the elevators like be serious,” another Twitter user added.
Well, we shall see how this works out. The timing is a bit odd with crypto not doing so well lately.
Photo: Ezra Shaw / Getty