Many university funds place their assets in cryptocurrency, writes RBC Crypto with reference to Coindesk. Sources of the publication claim that Harvard, Yale, Brown and Michigan universities have invested in bitcoin through the Coinbase crypto exchange and other sites.
In addition, it is believed that some of the funds may have opened accounts on the exchange 18 months ago. Coindesk writes that most universities have owned cryptocurrency for at least a year, and in 2021 may first report their income from working with it.
University funds are formed from donations, they are used to finance educational and research activities and can place funds in various assets for investment purposes. Harvard University has the largest fund, the size of which exceeds $ 40 billion.Yale University fund is estimated at more than $ 30 billion, Michigan – $ 12.5 billion, Brownian – $ 4.7 billion.
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