CoinDesk learns that Ivy Leagues buy Bitcoin! Ivy Leagues buy Bitcoin through their endowments quietly, according to a report from CoinDesk.
Ivy’s including Harvard, Yale, and Brown, as well as other prestigious universities like The University of Michigan, have been buying crypto directly on exchanges.
According to CoinDesk, comments were not given by Yale nor Brown, and Harvard and U of M declined to comment. Coinbase also declined to comment.
A source told CoinDesk:
“It could be since mid-2019,” the source said. “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.”
Harvard has one of the largest university endowments, with over $40 billion in assets. Yale follows with $30 billion – Michigan with around $12.5 billion, with Brown at $4.7 billion. It’s unknown what percentage each fund has allocated in crypto. It’s likely it’s a fraction of a percent.
Crypto Venture Capitals are slowly becoming invested by these large universities. According to a source that talked with CoinDesk, there has been a big change over the past few months.
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