Top institutions and business organizations have choosen to invest in crypto. Multiple Ivy League and other prestigious U.S. universities are not left out as rumor have it that they have made investments into “at least” one cryptocurrency fund. The report was published by the technology news site.
Referring to an unnamed source, the Information contained in the report shows that the multi-billion endowments of Harvard University, Stanford University, Dartmouth College, Massachusetts Institute of Technology (MIT), and the University of North Carolina had invest in crypto. This can be “a sign of the asset class’ growing acceptance among institutional investors,” said the source.
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SPECULATIONS OF HOW MUCH THESE INSTITUTIONS HAD INVEST IN CRYPTO
Harvard’s endowment is reported to have hit $39.2 billion during the fiscal year 2018, making it “by far the largest university endowment across the globe.” In the wealthiest U.S. college rankings for the previous fiscal year, both Stanford and MIT’s endowments scored within the top ten – fourth and sixth respectively – with Dartmouth College and the University of North Carolina also appearing in the top twenty five.
Last week it was reported that fellow Ivy League titan Yale has also just been revealed to be a crypto investor. The college is said to have been one of those that helped to raise $400 million for a new crypto-focused fund created by Coinbase co-founder Fred Ehrsam, former Sequoia Capital partner Matt Huang, and Charles Noyes, formerly of stalwart crypto fund Pantera Capital.
With news that the world’s leading academic players are backing the emerging asset class, a host of top international universities have also been contributing to skill acquisition in the space by offering blockchain, smart contract, and cryptocurrency-related courses. Institutions such as Cambridge University have conducted substantial research into the crypto-finance field, and Swiss university Lucerne even accepts Bitcoin payments for tuition fees.
One can rightly say that race to invest in crypto is just getting started. If these top institutions can invest in crypto then lots of persons will assume its safe. But note that no official news have been released but these are good sign that future of crypto is a bright one.