FX.co ★ US universities invest in bitcoin

Prominent US universities including Harvard, Yale, Brown, and the University of Michigan have produced generations of successful investors and billionaires. So it comes as no surprise that these schools are good at investments themselves. Every educational institution has its endowment fund. A part of it is used for educational and research activities, while the rest can be allocated to various assets for investment purposes. For example, Harvard has the largest university endowment with over $40 billion. Notably, this amount far exceeds the budget allocated for the entire education system in some countries. Therefore, the university administration strives to maximize the existing endowments. It has been reported recently that numerous large US universities have invested in bitcoin. Although the exact amount of investments is not revealed, the fact is confirmed by a source familiar with the matter. The universities have been buying crypto directly on exchanges for more than a year, the report says. Bitcoin, the most popular cryptocurrency, is projected to surge above $50,000 in the long run. Analysts predict that the demand for bitcoin will grow in the next 3-10 years, while gold may lose ground. The price of the number one digital asset soared four times in 2020.