Harvard, Yale, Brown Endowments Have Been Buying Bitcoin for at Least a Year.

[Malam90]

University endowments that backed blockchain VCs in 2018 have started buying crypto directly from Coinbase.
Some of the largest university endowment funds in the U.S. have been quietly buying cryptocurrency for the past year or so through accounts held at Coinbase and other exchanges, CoinDesk has learned.

According to two sources familiar with the situation, Harvard, Yale, Brown and the University of Michigan as well as several other colleges have been buying crypto directly on exchanges. (Several Ivy League endowments took an interest in blockchain technology via crypto-focused venture capital funds back in 2018.)

“There are quite a few,” said a source who asked to remain unnamed. “A lot of endowments are allocating a little bit to crypto at the moment.”

News source

[TomPluz]

I am hoping that these endowments are getting a profitable stay here in Bitcoin. I am sure this can be enticing many other funds to also try their nerve with Bitcoin and hold them for many years. One thing that I love the entrance of these endowment funds is that they do not usually look at an asset for one year but usually look beyond the short-term. Hot investments can come and go anytime and may have a negative effect in the price movements of the asset.