TIME

MIT Students To Get Free Bitcoins This Fall

It's not quite free money, but it's close

Next year, MIT undergrads will pay $43,498 in tuition year, but hey, at least they’re getting 1oo free Bitcoins.

MIT’s Bitcoin Club arranged the giveaway in hopes of turning the cryptocurrency into a viable payment model.

The Bitcoin Club raised $500,000, most of it coming from a wealthy MIT alumnus, to make the project a reality.

Few stores in the Cambridge area currently accept the currency, but with 4,528 undergrads having 100 Bitcoins burning a hole in their digital pocket, that could yet change.

Your browser, Internet Explorer 8 or below, is out of date. It has known security flaws and may not display all features of this and other websites.

Learn how to update your browser