University of Austin bets on Bitcoin with a $5m long-term investment fund

The University of Austin will establish a Bitcoin investment fund to explore the long -term potential of digital assets within its endowment strategy.

According to a financial time reportThe University of Austin, aged 142, collects a Bitcoin fund of $ 5 million as part of its 200 million dollar endowment, making it the first American university allocation to launch a dedicated Bitcoin fund.

An endowment is a fund of funds given that an university invests in generating yields over time. Additional income is generally used to support operational costs, scholarships and research, among other cases of use.

The Bitcoin Fund of the University of Austin will be structured as a long -term investment, the university providing for Bitcoin for at least five years. Chad Thevenot, Vice-President Director of Progress at University, stressed that the institution considers Bitcoin as a “long-term value”, a bit like “actions or real estate”.

Initially announcement In May, the fund was revealed for the first time when the University of Austin joined the Bitcoin Unchained financial services company. As part of the collaboration, Unchained manages the Bitcoin Holdings of the Fund.

Although the University of Austin is the first to launch a dedicated bitcoin fund, it is not the only university crypto.

In October, Emory University in Georgia became the first endowment of the American college to expose itself to Bitcoin. As before reported By Crypto.News, the university revealed an investment of $ 15.1 million in the Graycale Bitcoin mini-fidiousness in a deposit with Securities and Exchange American Commission.

Before that, the Blyth Fund of the University of Stanford disclosed Allocating 7% of its Bitcoin portfolio. In particular, in March, the fund managed by students supported by the endowment invested in the BlackRock FNB Ishares Bitcoin after a proposal from the Stanford’s Blockchain Club. The fund bought Bitcoin at $ 45,000 per room