It is said that multiple universities of the Ivy League and other prestigious American universities have invested in “at least” a crypto funds. The report was published on the Information Technology news site on Wednesday, October 10.
Citing an anonymous source, Information reported that the multi-million dollar endowments of Harvard University, Stanford University, Dartmouth College, the Massachusetts Institute of Technology (MIT), and the University of North Carolina had invested capital in cryptospace. This is “a sign of the growing acceptance of the asset class among institutional investors,” the source said.
It is reported that the Harvard endowment has reached $ 39.2 billion during fiscal year 2018, which makes it “the largest university grant in the world.” In the rankings of the richest universities in the United States of the previous fiscal year, both Stanford and the MIT endowments scored within the first ten (fourth and sixth respectively) with Dartmouth College and the University of North Carolina also among the twenty-five first.
As reported last week, another fellow from the Ivy League, Yale, has also just been revealed as a crypto-investor. It is said that the university was one of those that helped raise $ 400 million for a new crypto fund created by Coinbase co-founder Fred Ehrsam, former Sequoia Capital partner Matt Huang, and Charles Noyes, formerly of the robust crypto-fund Pantera Capital.
With the news that the world’s leading academic players are supporting the emerging asset class, a number of top-tier universities have also contributed to the acquisition of skills in the space by offering courses related to block chain, smart contracts and cryptocurrencies. Institutions such as the University of Cambridge have carried out important research in the field of crypts, and the Swiss university of Lucerne even accepts Bitcoin payments for tuition fees.