MIT students raise $500000 in Bitcoin, gets official backing
Two students at the Massachusetts Institute of Technology (MIT) are grabbing headlines for their innovative job in raising huge amount for the sole purpose of education.
Had they done this for themselves the media would have not covered them. What they did was great after collecting the amount the turned it into Bitcoins. That was not the end of the story. These two students with rare caliber announced that they would share the fund among their peers for educational purposes.
This has been confirmed by MIT. Also the names of the Bitcoin donors have been announced and they are: Dan Elitzer, founder and president of the MIT Bitcoin Club and Jeremy Rubin, a sophomore studying electrical engineering and computer science.
Impressed, Rubin said: â€œGiving students access to cryptocurrencies is analogous to providing them with internet access at the dawn of the internet era.â€ With this development, every MIT students will be able to lay their hands over $100 in Bitcoins. It is understood that some 4,000-plus MIT students will benefit from the offer. Also, students will get the freedom to use it wherever they want. Since the surfacing of the MIT Bitcoin Project, it is the talk of the town.
Dan is confident about spending options. â€œWe decided to announce this project now to give students lead time. We want to issue a challenge to some of the brightest technical minds of a generation.â€