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Ivy Leagues In The U.S. Have Been Purchasing Cryptocurrency Since 2020

Big Ivy Leagues and Bigger Investments In Crypto
  • Endowment Funds of the biggest Ivy Leagues in the U.S. have been investing in cryptocurrency since 2020
  • Accounts of these universities are held at various digital asset exchange platforms
  • Speculation suggests that Harvard holds about $40 billion in crypto assets

Ivy Leagues like Yale, Brown, and Harvard’s endowment funds have purchased cryptocurrency since 2020.

Big Ivy Leagues and Bigger Investments In Crypto

The most significant endowment funds of Ivy Leagues in the U.S. have been unobtrusively purchasing digital currency for more than a year since 2020. These transactions have taken place on various crypto exchange platforms such as Coinbase. As per two sources acquainted with the circumstance, Yale, Harvard, Brown, and the University of Michigan are among the many universities that have invested in digital assets through different exchanges. 

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According to anonymous sources, there are multiple accounts in these universities that are holding crypto assets. It was suggested that the allocation of funds towards virtual currency had been done gradually since mid-2018 or even 2019. 

University Endowments Hold Massive Crypto Assets

The largest university endowment in digital assets is speculated to be held by Harvard University. The institute holds over $40 billion in cryptocurrency holdings. Similarly, other Ivy Leagues also hold assets worth billions. Michigan owns $12.4 billion, and Brown has invested in assets worth $4.7 billion. Yale University holds a significant amount of $30 billion in digital assets. However, the exact amount invested in crypto is still obscure. It is likely a small percentage of the entire resource held by the respective colleges.

In 2018, David Swensen, Chief Investment Officer at Yale University, stood out as truly newsworthy by supporting two crypto-centered reserves. Andreessen Horowitz runs one and another, dispatched by Coinbase fellow benefactor Fred Ehrsam and previous Sequoia Capital partner Matt Huang. 

A few different colleges followed Yale in supporting crypto VCs, including numerous colleges like Dartmouth, MIT, Harvard, Stanford, Michigan, and the University of North Carolina. A large portion of those schools has all the earmarks of making the stride towards digital assets by investing directly in crypto resources. 

The following source, which is engaged with the crypto flexible investments world, highlighted “a major change” in recent months. It was mentioned that characterized advantages in annuity plans such as pension are getting closer to receiving allocations. According to Ari Paul, a venture capitalist for the University of Chicago and an avid supporter of BlockTower Capital commented that he would not have believed in the interest shown by these universities in cryptocurrency three years ago. However, things have certainly changed now, and there is more trust in the digital asset as long as regulated platforms such as Anchorage and Coinbase are facilitating trade. 

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Ritika Sharmahttp://www.thecoinrepublic.com
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

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