One California camp is teaching kids how to mine bitcoin.
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The kids were mostly from non-white backgrounds, part of an effort to close the racial wealth gap, says founder and entrepreneur, Najah Roberts, who is Black.
“Most of us grew up in school and nobody ever taught us how money worked,” Roberts explained. “We really missed the significance of savings and investing and how these things came about.”
Campers came from states like New Jersey and Texas to learn about the crypto trend that’s spreading like wildfire through school clubs, social media and online trading exchanges.
Earlier this year, Georgia lawmakers even considered a bill requiring a personal finance course that included cryptocurrencies for high school students.
Despite concerns about volatility in the cryptocurrency market, there is no age limit to hold digital currencies, just as there is no age limit to hold cash. Some 9% of teens say they have traded cryptocurrencies, according to a survey by investment firm, Piper Sandler. And the trend is expected to continue.
Roberts’s camp could be the first of its kind in the country. But Ciris Hendricks, the camp’s chief operations officer, says the aim is nationwide.
“We want to get it set up to the point where it’s in each city,” he said.
Roberts opened the camp in 2019 after spending several years as a bitcoin investor.
Related: Bitcoin cuts in price below $30,000