Bitcoin News Today: Harvard's Bitcoin Bet Defies Past Skepticism as Institutions Pile In

Harvard University has dramatically increased its exposure to Bitcoin, nearly tripling its stake in the iShares Bitcoin Trust (IBIT) in the third quarter, making the exchange-traded fund its largest disclosed holding. The university now owns 6.8 million shares of IBIT, valued at $442.8 million as of September 30, a 257% surge from its previous position. This move positions Harvard as the 16th-largest holder of the BlackRock-managed fund, marking a significant institutional endorsement of Bitcoin amid a broader market correction.

The academic endowment's decision contrasts with earlier skepticism from Harvard economists. Kenneth Rogoff, a former IMF chief economist and Harvard professor, once predicted Bitcoin would trade at "$100 rather than $100,000" within a decade. However, the university's recent allocation reflects a shift in institutional sentiment, with Harvard's Bitcoin stake now outpacing holdings in Microsoft, Amazon, and even gold ETFs. Bloomberg ETF analyst Eric Balchunas called the move "as good a validation as an ETF can get," noting the rarity of top-tier endowments committing to crypto-related products.

Harvard's bet aligns with a broader trend of institutional adoption. Abu Dhabi's Al Warda Investments, a sovereign wealth fund, also boosted its IBIT holdings by 230%, while Emory University added over one million shares of Grayscale's Bitcoin Mini Trust ETF. Meanwhile, U.S. spot Bitcoin ETFs have faced recent volatility, with $869.9 million in outflows recorded on Thursday-the second-largest on record-as Bitcoin slumped below $100,000 for the first time in 188 days. Despite this, institutional demand remains resilient.

The market's mixed signals have sparked debate among analysts. Vincent Liu of Kronos Research described the outflows as a "risk-off reset" amid macroeconomic uncertainty, while others see buying opportunities at current levels. Bitcoin's decline to $96,956 has tested critical support zones, with some strategists eyeing the $92,000–$95,000 range as a potential floor. Morgan Stanley analysts advised taking profits, noting the "fall season" for Bitcoin as technical indicators suggest a corrective phase.

Harvard's aggressive Bitcoin allocation underscores the growing acceptance of crypto among institutional investors, even as regulatory and market risks persist. With the endowment's Bitcoin stake representing 0.6% of its $57 billion portfolio, the university's move could influence future adoption by other major endowments. As the price action unfolds, the coming weeks will test whether institutional confidence can stabilize the market-or if further volatility lies ahead.