April 30, 2014 2:38 PM EDT

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.

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