Ivy League Universities are Gaining Exposure on Bitcoin
For the past few months, Bitcoin (BTC) has been actively bought by Ivy League endowment funds via Coinbase and other cryptocurrency exchanges.
The Harvard University endowment, which is the world’s largest academic institution managing over $40 billion worth assets, and also Yale and Brown’s endowments are supposedly purchasing cryptocurrencies.
Furthermore, credible reports indicate that several university endowments in the US are silently setting aside funds for the purchase of cryptocurrencies and ensure that the portfolio is diversified. Some of those university endowments have been maintaining trading accounts with Coinbase since mid-2019.
“Most have been in at least a year. I would think they will probably discuss it publicly at some point this year. I suspect they would be sitting on some pretty nice chunks of return.”
Three years before, there were reports that Harvard, Dartmouth College, Stanford, University of North Carolina and Massachusetts Institute of Technology had gained exposure in at least a single cryptocurrency fund.
David Swensen, chief investment officer at Yale endowment fund, has been a well-known investor in two venture funds focused on cryptocurrencies. Swensen is popularly referred to as the Warren Buffett of institution level investing.