Out of Thousands of MIT Students That Got Free Bitcoin in 2014

Over six years ago, at the Massachusetts Institute of Technology (MIT), a couple of scholars distributed $100 in bitcoin to 3,100 students. According to testimony from a few participants who held the leading crypto asset since then, the students netted 13,000% in profit.

MIT Grad Who Made 13,000%: ‘Most of Us Thought It Was a Bit of a Joke’

For a very long time now, MIT has been experimenting and supporting bitcoin (BTC), the leading crypto asset in terms of market capitalization. In 2014, two computer science students Dan Elitzer and Jeremy Rubin distributed $100 worth of BTC to thousands of MIT undergraduates. After Rubin and Elitzer left MIT, they continued working in the cryptocurrency space. On Friday, a few of the students who held the BTC for over six years explained that they saw significant gains.

One particular student, Mary Spanjers, told Bloomberg that she still has the BTC and has kept it tucked away. Spanjers said that the $100 worth of BTC before the May market rout could have fetched her around $20,000 or around 13,000% in profit. At first, Spanjers said many students thought it was just a joke. “It’s truly remarkable,” Spanjers detailed during her interview. “Most of us thought it was a bit of a joke.”

The MBA student that started the free bitcoin initiative, Elitzer also founded the school’s Bitcoin Club but he and Rubin do not know how many people kept or sold the BTC. However, if every MIT student kept the digital asset, they would have netted around $60 million total. One student who works for a crypto firm called Ontology, Erick Pinos, ended up selling his free bitcoin. Today, however, Pinos said he keeps all of his funds in the crypto economy and further stressed:

I’m all about cryptocurrencies.

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