The University of Austin is launching a $5 million Bitcoin fund as part of its $200 million endowment, aiming to hold BTC for at least five years. This move highlights growing Bitcoin adoption among US institutions.
“We don’t want to be left behind when [crypto’s] potential materializes dramatically,” said Chun Lai, the university’s chief investment officer.
This follows Emory University’s $15 million Bitcoin investment via Grayscale’s spot BTC ETF, the first US university endowment to hold Bitcoin ETFs. Continued institutional adoption like this could significantly boost Bitcoin’s price.
Source: Cointelegraph
