MIT undergrads to get $100 in bitcoin in digital money trial

Every undergraduate student at the Massachusetts Institute of Technology next fall will be offered $100 in bitcoins in an experiment that students say will turn the prestigious university into one of the first places on the planet with widespread access to digital currency.

Bitcoin is not backed by any government or central bank, a digital currency whose value can swing dramatically based on demand. Users can transfer bitcoins to each other online and store the currency in digital “wallets.”