According to online reports, two MIT students, Jeremy Rubin and Dan Elitzer, launched an experimental plan in 2014 to distribute $100 in Bitcoin to each of the school's 4,494 undergraduate students, totaling approximately $500,000 (half of the funding came from Hudson River Trading co-founder Alexander Morcos). The project aims to study the impact of early adopters on the spread of new technologies and is supported by MIT professors and school officials. Although the actual use of Bitcoin on campus was limited at that time, as the price of Bitcoin rose more than 220 times, the total value of this batch of donated bitcoins now exceeds US$110 million. Jeremy Rubin later participated in the development of Bitcoin Core, and Dan Elitzer co-founded venture capital institutions such as IDEO CoLab Ventures and Nascent.