The endowments of Harvard, Yale and Brown Universities, which in 2018 supported investment in the Blockchain, have started buying bitcoins directly from the Coin Base exchange.
To Report CoinDesk, some of the largest university endowments in the United States, have been quietly buying digital currencies from their Coinbase accounts over the past year or so.
According to two informed sources, Harvard, Yale, Brown and the University of Michigan, along with several other colleges, have purchased digital currency directly from exchange offices.
A number of Ivy League member universities, including the top eight private universities in the United States, invested in Blockchain technology in 2018 through entrepreneurial investment funds.
A well-informed source told the media that there are many academic endowments that have already devoted part of their capital to digital currencies.
Yale and Brown universities have not responded to media requests for comment, and Harvard and the University of Michigan have declined to comment. The Coin Bass exchange has not yet commented.
In his annual report for 2020, Coin Base made a small reference to university endowments, but did not name any universities.
According to an informed source, some of these universities have been based in Quinn Base for 18 months. He also stated:
[خرید ارز دیجیتال] It may have started in mid-2019.
The source added:
Most of them have been for at least a year. I thought that this year they would finally talk about it in public. I think they are waiting for the time when they will make a good profit.
University endowments are reserves of capital collected by academic institutions, often in the form of charitable donations to support teaching and research, and may be used to invest in various assets.
Harvard University has the largest university endowment with a fortune of $ 40 billion. The endowments of Yale, Michigan and Brown Universities are $ 30 billion, $ 12.5 billion and $ 4.7 billion, respectively. It is not yet clear how much of each of these universities has invested in digital currency.
David Swensen, Senior Investment Director at Yale University, made headlines in 2018 with the support of two digital currency investment funds. One is run by Andreessen Horowitz and the other is co-founded by Fred Ehrsam, co-founder of Coin Bess, and Matt Huang, chief executive of Sequoia Capital. They were.
Many other universities, including Harvard, Stanford, Dartmouth College, Umayyad, the University of Northern California, and Michigan, followed suit after Yale University supported investing in digital currencies. It is clear that some of these universities have taken the second step and invested directly in encrypted assets.
A second informed source, who works in digital currency hedge funds, pointed to a major change in the past few months and said:
We are seeing retirement schemes approaching the allocation of capital for digital currencies with certain benefits. [همین طور] We are witnessing government retirement schemes [هم] To allocate [سرمایه] They are approaching.
Ari Paul, co-founder of BlackTower Capital and former investment director at the University of Chicago, said:
If I had heard this three years ago, I would have said it was a lie. But many institutions now accept bitcoin easily. They understand it and can buy directly if it is offered by registered companies such as Coin Base, Fidelity or Anchorage.