Several well-known U.S. universities have invested in Bitcoin through Coinbase and other cryptocurrency exchanges. CoinDesk reports, citing sources.<\/p>\n
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According to them, over the past year [simple_tooltip content=\u2019\u0446\u0435\u043b\u0435\u0432\u044b\u0435 \u0444\u043e\u043d\u0434\u044b \u043d\u0435\u043a\u043e\u043c\u043c\u0435\u0440\u0447\u0435\u0441\u043a\u0438\u0445 \u043e\u0440\u0433\u0430\u043d\u0438\u0437\u0430\u0446\u0438\u0439\u2019]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.<\/p>\n
\n\u201cAt present, many funds allocate small amounts to cryptocurrencies,\u201d a source said.<\/p>\n<\/blockquote>\n
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.<\/p>\n
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.<\/p>\n
Coinbase analysts mentioned university endowments in the 2020 year-in-review report<\/a>, but avoided naming them. According to a source, some of them may have created accounts on the exchange 18 months ago.<\/p>\n
\n\u201cI think they [the funds] will generate decent returns,\u201d he said.<\/p>\n<\/blockquote>\n
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.<\/p>\n
In the same year Yale University invested in the cryptocurrency hedge fund Paradigm.<\/p>\n
Earlier, NYDIG head Robert Gutmann said that large investors in the cryptocurrency market are interested exclusively in Bitcoin<\/a>.<\/p>\n