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University of Austin Explores $5 Million Bitcoin Investment Amid Growing Interest from Institutional Endowment Funds
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The University of Austin is eyeing a $5 million Bitcoin investment for its $200 million endowment fund.
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This move reflects a broader shift among endowment funds, who are increasingly embracing BTC.
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Market observers say more universities and institutional investors would integrate Bitcoin into their portfolios.
The University of Austin is making major moves in institutional Bitcoin adoption, planning to launch a dedicated Bitcoin investment fund.
This initiative reflects the increasing interest among US institutions to adopt Bitcoin and other digital assets.
University Endowment Funds Increasingly Embrace Crypto
Latest reports reveal that the University of Austin, established just a year ago, is raising a $5 million Bitcoin fund as part of its $200 million endowment. This move positions it as the first institution in the US to introduce a dedicated crypto endowment fund.
Chad Thevenot, the university’s senior vice president for advancement, stated that the Bitcoin holdings will remain untouched for at least five years. He likened Bitcoin’s long-term value to traditional investment assets such as real estate and equities.
“We think there is long-term value there, just the same way that we might think there is long-term value in stocks or real estate,” Thevenot explained.