Breaking: Harvard and MIT Just Invested in Crypto
A minimum of five additional universities made investments into cryptocurrencies, indicating that an upward trend of investors from various institutions has begun.
A group of major higher education institutions including prestigious names like Harvard, Stanford, MIT, and more have invested large funds into one or more varying crypto funds via endowments.
An anonymous insider stated that the school endowments invested millions in the funds, and as a result place investments in cryptocurrencies as well as stakes in cryptocurrency corporations.
It was reported that Yale, who is in control of the next largest endowment after Harvard, already moved parts of its $29 billion into various crypto funds managed by Andreessen Horowitz among others.
Despite the substantial investments, all 6 universities reportedly invested in crypto lack exposure to the asset class. Nonetheless, the concept of them investing in the sector in anyway is beneficial to the industry.
Crypto analysts and aficionados like Mike Novogratz coined the term “herd” when referring to a prediction that institutional investors may be the driving force behind the potential upcoming BTC bullish trend.
Ari Paul, formally a funds manager at U of C's endowment, stated that a lot of institutions showed significant interest in making crypto investments but are apprehensive until large names like Yale take the first step.