Universities and Foundations Embrace Bitcoin Amid Trump's Crypto Push

US Foundations and Universities are increasingly accumulating Bitcoin (BTC) amid President Trump's pro-crypto stance, according to a recent report. The Financial Times revealed that Trump's promises to make the US a crypto powerhouse have encouraged charities and universities to invest in the top crypto asset by market cap.

The University of Austin and Emory University in Georgia are among the notable institutions getting exposure to Bitcoin. Meanwhile, The Rockefeller Foundation is considering increasing its crypto assets. Chun Lai, the foundation's CIO, stated, "We don't have a crystal ball on how cryptocurrencies will become in 10 years. We don't want to be left behind when their potential materializes dramatically... The crypto space is associated with the artificial intelligence space and the level of digitization of the economy. [Cryptocurrencies] can be useful if the economy becomes more [digitized]."

Chad Thevenot, senior vice president for advancement at the University of Austin, views investing in crypto assets similarly to other asset classes. The university is raising a $5 million BTC fund. However, other universities like the University of Nebraska are taking a more cautious approach. Brian Neale, CIO of the University of Nebraska Foundation, stated, "I think this administration has the power to move things in that direction. But I don't think just the president of the United States issuing his own cryptocurrency is really going to be the catalyst that it's going to move things to the mainstream."