The new update circulating in a new report on social media is that despite the growing interest of investors, which is now led by institutional investors in cryptocurrency, University endowments are fully committing to cryptocurrencies alongside.
Normally, the boom enjoyed by many of the digital assets in the cryptocurrency space continues to be a center of attraction to many. But what will be surprising is that many would not have envisaged that the endowments of top universities like Harvard and Yale will be leading other educational edifices in the world to adopt cryptocurrency as a means of investment.
The University endowment got all the needed support from Coinbase
In the new report, about four university endowments now have investments in several digital assets. The report also stated that most of the endowments have committed to cryptocurrencies for about 2years now. The university endowments have been led by Harvard, whose endowment portfolio is worth more than $40 billion.
The reporter who carried out the research and wanted to remain anonymous had also noted that the duration of investments by the University endowments means that their efforts must have yielded juicy returns by now. The anonymous reporter has also confirmed that the exchange that had facilitated the universities’ purchase estimated to be four in number is Coinbase.
Coinbase boasts as not just an exchange but as also a crypto venture that is open to enlightening the world about cryptocurrency, a role they must have played well by allowing four educational citadels to commit their treasury into cryptocurrency.
The way forward
The world can no longer ignore digital assets as we speak. The cryptocurrency market has grown at least ten times what it used to be about 3years ago. Digital assets are now the toast of everyone, as they are now rivaling traditional assets like gold. The current economic situation of things in the world now means that everyone must now look for alternate means to profit off a dwindling economy amidst fiat currency devaluation and economic recession.
The shift of paradigm to digital assets like Bitcoin and Ethereum by many investors, especially institutional nature, is strategic rather than just normal. For example, Bitcoin had witnessed several price boom in the last two months, which had taken the cryptocurrency to several ATHs, despite the constant price volatility.
Ethereum, on the other hand, has also had its share of progress and has even outperformed Bitcoin since the beginning of 2021 compared each other. Several digital assets are continuing to gain strengths, too, as the market continues to be the go-to place for investors.
The recent institutional adoptions of several cryptocurrencies, amidst firms and organizations committing their treasury to the assets, are predicted to rise. However, Harvard and Co. are now the frontrunners in leading several university endowments to the cryptocurrency space. The news which the cryptocurrency space can only see as good news.