In 2014, the MIT Bitcoin Project gave away free cryptocurrency to any student who wanted to participate.
A group of MIT college grads could be sitting on 13,000% bitcoin returns after participating in a 2014 project that gave away free crypto, Bloomberg first reported.Insider followed up with Mary Spanjers, a 24-year old who was profiled by Bloomberg and hasn't sold the $100 of bitcoin she first received in 2014.As a college student, Mary Spanjers was always willing to participate in academic experiments on campus.
It's unclear how many participants still own the bitcoin. One in ten cashed out in the first two weeks, and one in four had sold by the time the experiment ended in mid-2017, Christian Catalini, an MIT associate professor who oversaw the study, told Bloomberg."It dropped down from $100 to $50 pretty soon after the study started, and a lot of people freaked out and got pizza," Spanjers told Insider.
The MIT experiment was created by Dan Elitzer, then an MBA student who had just founded the school's Bitcoin Club, and Jeremy Rubin, an undergrad computer science major. The students sought to "to take a glimpse into the future and see what's possible with this technology," Elitzer told Bloomberg.
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