Brown University's Bitcoin Investment Surges 18%
1min read Brown University, a prestigious Ivy League institution, has entered the realm of Bitcoin investment. According to a recent filing with the U.S. Securities and Exchange Commission, the university now holds 105,000 shares of BlackRock’s iShares Bitcoin exchange-traded fund (IBIT), initially valued at $4.915 million. With the current price of IBIT at $55.19 per share, the value of brown's investment has appreciated to approximately $5.79 million.
This investment by Brown University is part of a broader trend among educational institutions embracing cryptocurrencies. Emory University, a private research institution, holds 2,678,906 shares of the Grayscale Bitcoin Mini Trust ETF, as revealed in a previous SEC filing. Emory University also purchased 4,312 shares of Coinbase’s stock. The University of Austin (UATX), which enrolled its first cohort last fall, announced plans to invest in a $5 million long-term endowment fund held in Bitcoin. Chad Thevenot, UATX’s senior vice president for advancement, stated that the university views investing in crypto assets similarly to investing in other asset classes, such as stocks or real estate, recognizing the potential for long-term value.
Brown University's decision to invest in Bitcoin highlights a growing trend among educational institutions to diversify their portfolios by including cryptocurrencies. This strategic move reflects a broader acknowledgment of the potential for digital assets to deliver significant returns over the long term. By following the lead of Emory University and UATX, Brown University is positioning itself to capitalize on the evolving landscape of financial investments, which increasingly includes cryptocurrencies. This trend indicates a shift in how institutions view and manage their financial assets, recognizing the importance of digital currencies in modern investment strategies.
