The University of Austin is invested in Bitcoin with a long-term investment fund of $ 5 million

The University of Austin will establish the Bitcoin Investment Fund for the research of the long-term potential of digital property within its debit strategy.

According to financial time reportThe 142-year university of Austin raises a $ 5 million fund as part of his $ 200 million, making it the first American University of Launching Dedicated Bitcoin Fund.

The endowment is the pool of donated funds that the University invests to generate return over time. Additional income is usually 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, with the planning of the University to hold Bitcoin for at least five years. Chad Thevenetov, a senior vice president of the University, emphasized that the institution sees Bitcoin as “long-term value,” much similar to “stocks or real estate”.

Initially announced In May, the Fund was first discovered when the University of Austin has teamed up with the company of Financial Services Bitcoin. As part of cooperation, he is hiddenly guards the guardianship in the Funds of Bitcoin estate.

While the University of Austin was the first to launch the purposeful Fund Bitcoin, it is not the only university Impairment in crypto.

In October, the Emori University of Georgia became the first American college that Bitcoin would receive exhibiting Bitcoin. As before export By Crypto.News, the University discovered $ 15.1 million in the Graiscale’s Bitcoin Mini trust in the submission of American securities and replacements.

Before that, Blith Fund Stanford University Stanford discovered He awarded 7% of his portfolio in Bitcoin. From the Montenegro-supported Entrance Fund, he invested in Blacrock’s ISares Bitcoin ETF after the proposal of Stanford Blockchain Club. The fund bought Bitcoin to $ 45,000 per coin