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In all the fall-outs that have been after the FTX crypto-exchange being wiped out, it appears one investor hasn’t done too bad. “I will not lose” was once his moniker. And even in times of the stock market and crypto world crashing, it appears his decisions are golden. Marcy Projects residents gifted $1000 by Jay-Z and Jack Dorsey’s Bitcoin Academy [tweet], have only lost $19 in the crash.
FTX CEO Sam Bankman-Fried, who is US-government linked, made $20-billion-dollars disappear overnight like Whodini. The destruction caused by his drug-fueled decisions is immense. Athletes like Klay Thompson and Andre Igoudala, may have lost millions. Michael Jordan’s NFT project “HEIR,” a collaboration with his son Jeffrey Jordan, got slammed. Some of its “6 Rings” non-fungible tokens fell to 20% of its original value or $45-dollars.
How Jay-Z & Bitcoin Academy Beat The Odds
It appears Jay-Z and Jack Dorsey’s Bitcoin Academy entered the market at the right time however. Unlike others who invested in the crypto-markets while they were at prices of above $35,000 (USD), the Roc Nation & Twitter bosses planned to buy-in while Bitcoin prices were down bad.
According to TechCrunch, Carter & Dorsey teamed to launch the Bitcoin Academy in June 2022. The cryptocurrency ‘school’ was to provide Marcy Projects residents with education on Bitcoin specifically and finance. Over 350 people from the Brooklyn community showed up to participate.
Gifting Brooklyn Students $1000 BTC
Many who showed up for the event, dedicated themselves to learning what Jay-Z promoted, and graduated from the program. And to their surprise, there was a gift from the two wealthy founders of the Bitcoin Academy awaiting their excellence.
“At tonight’s graduation class, @sc and I offered each student a grant of $1,000 in bitcoin. Students can save, spend, or send their bitcoin however they choose to keep investing in themselves,” twitter Jack Dorsey of the gifts.
Why Jay-Z & Dorsey’s Decision Is Winning After Market Crash
That gift was given on September 7, 2022. At the time, Bitcoin’s price was $19,284 according to Coindesk. Only around $3,600 more than today’s price, through a market crash that’s fueled by a Ponzi scheme some say is worse than Bernie Madoff and Enron together.
The $3600 in terms of percentage is approximately 1.9% or $1.90 per $100 invested.
No one wants to lose, but this is a huge win in terms of the current status of all financial markets.
In comparison, Klay Thompson and others invested fiat into Bitcoin at prices above $35,000 USD. Their losses are over 40% or $40 per $100.
And while Bitcoin prices are expected to reach $100,000 in the future, many ‘short term’ investors were not planning for these inconveniences. Their investments will be lost if they choose to pull out what’s left, today.
Celebrities like Klay Thompson will likely recover what’s lost regardless. They can afford to wait for the market’s come back. Some have estimated it to be 2024, depending on how the Russia-Ukraine conflict affects the world.
Jay-Z & Jack Dorsey group on the other hand, seemed to understand ‘under $20k’ was the right time to buy. And that keeps Jigga’s “I Will Not Lose” slogan a true testament to his life story.
Future Value of Bitcoin Academy’s BTC Gift
Buying Bitcoin for its graduates after the price lowered to under $20,000 USD minimized risks and created little to no fallout for Bitcoin Academy graduates. The $1000 of BTC which they were gifted on September 7th, is now worth approximately $981.
Most investors, if not all, agree that Bitcoin is a better store of value than Gold itself. And not only that, most agree it will eventually head to $100,000 in value and then $1-Million.
Once Bitcoin’s value reaches such heights, students of Jay-Z and Dorsey’s academy that hold their digital tokens, will have new empowerment. That $1000 gift will be worth over $5000 USD when BTC reaches $100,000 in value. That $100k is less than double the All-Time High (ATH) of Bitcoin to date.
Bitcoin Academy is supposed to branch out to other communities, with no dates announced. Dorsey tweeted that he would update followers on the educational program’s progress via social media.