MIT Bitcoin Club to distribute $100 worth bitcoin to 4500+ undergrads

WASHINGTON (Scrap Monster): Two MIT students have raised $500,000 towards a project that plans to distribute $100 worth bitcoin to every undergraduate student at MIT.Jeremy Ruben and Dan Elitzer are believed to have secured more than half a billion dollars in commitments from 25 donors including MIT alumni.

The MIT Bitcoin Project with significant additional support from the Bitcoin community, plans to distribute bitcoins to 4,528 undergraduate MIT students. It also plans to work closely with professors and researchers across the Institute to study how students use the bitcoin they receive.

The distribution of bitcoins is scheduled to take place during fall. The time until then will be utilized to build up the Bitcoin Ecosystem at the MIT and also to educate merchants around the campus to accept Bitcoin payments. As part of the initiative, the Bitcoin Club will also organize a MIT Bitcoin Expo on Saturday, May 3^rd, which will feature presentations and technical workshops to be attended by eminent personalties from the Bitcoin community.

Jeremy Rubin is a second year electrical engineering and computer science student at the MIT. Dan Elitzer is a first year student in the MBA program at MIT Sloan.