Several well-known U.S. universities have invested in Bitcoin through Coinbase and other cryptocurrency exchanges. CoinDesk reports, citing sources.
According to them, over the past year [simple_tooltip content=’целевые фонды некоммерческих организаций’]endowments[/simple_tooltip] of Harvard, Yale, Brown University, and the University of Michigan have been buying digital gold. The exact size of the investments was not disclosed.
“At present, many funds allocate small amounts to cryptocurrencies,” a source said.
Endowments at American universities are funded by donations. The funds are used to finance teaching and research activities, as well as investments in various assets.
Harvard University’s endowment is the largest, exceeding $40 billion. Yale University has $30 billion, the University of Michigan $12.5 billion, and Brown University $4.7 billion.
Coinbase analysts mentioned university endowments in the 2020 year-in-review report, but avoided naming them. According to a source, some of them may have created accounts on the exchange 18 months ago.
“I think they [the funds] will generate decent returns,” he said.
In 2018, media reported possible investments in Bitcoin by Harvard, Stanford, and the Massachusetts Institute of Technology, as well as Dartmouth College of the Ivy League and the University of North Carolina.
In the same year Yale University invested in the cryptocurrency hedge fund Paradigm.
Earlier, NYDIG head Robert Gutmann said that large investors in the cryptocurrency market are interested exclusively in Bitcoin.
Subscribe to ForkLog’s channel on YouTube!