Free bitcoins distributed to undergraduate MIT students

A notable event took place at the Massachusetts Institute of Technology (MIT) where $100 worth of Bitcoin was distributed to each undergraduate student as part of the “MIT Bitcoin Project.” This initiative was spearheaded by MIT student Jeremy Rubin and was supported by donations from alumni and Bitcoin enthusiasts.
 

The project aimed to foster a deeper understanding and widespread use of Bitcoin among students. A total of 3,108 undergraduates participated, and the distribution was made when Bitcoin was trading at around $336. The idea was that if students held onto their Bitcoin, they could potentially benefit from its appreciation in value over time.
 

However, not all students saved their Bitcoin; some spent it on various items, including sushi at a local restaurant that accepted Bitcoin payments. By the end of the experiment in 2017, about a quarter of the students had cashed out their Bitcoin. The project was a significant moment in Bitcoin’s history, as it represented one of the first large-scale distributions of bitcoins to a concentrated group of individuals and highlighted the potential of BTC as a medium of exchange.