Ivy League endowment funds have reportedly been buying Bitcoin (BTC) through Coinbase and other crypto exchanges for months.
The Harvard University endowment, the largest in the world for an academic institution with over $40 billion in assets under management, as well as Yale and Brown’s endowments are reportedly buying crypto assets, reports Coindesk, citing sources familiar with the investments.
Those sources say many university endowments in the US are quietly allocating crypto in their portfolio. Some may have held 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.”
In 2018, The Information also reported that Harvard, Stanford, Dartmouth College, Massachusetts Institute of Technology, and the University of North Carolina had invested in at least one crypto fund.
Yale endowment chief investment officer David Swensen, who is often referred to as the Warren Buffett of institutional investing, is known to have invested in two venture funds dedicated to cryptocurrency.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/f11photo