Brown University now holds $4.915 million in Bitcoin via shares of BlackRock’s iShares Bitcoin ETF. This investment follows similar moves by Emory University and the University of Austin, which have also invested in cryptocurrencies. Bitcoin’s current value at $96,723 reflects a gain of over 2% recently.
Brown University is stepping into the cryptocurrency realm as it officially claims stakes in Bitcoin. According to a recent filing to the U.S. Securities and Exchange Commission (SEC), the Ivy League institution has acquired 105,000 shares of BlackRock’s iShares Bitcoin exchange-traded fund (IBIT), with a valuation at $4.915 million. However, given that IBIT is currently valued at $55.19 per share, the entire investment could be worth approximately $5.79 million now.
This move by Brown mirrors similar investments from other academic institutions. Emory University in Atlanta disclosed last year its possession of a staggering 2,678,906 shares in the Grayscale Bitcoin Mini Trust ETF. Additionally, Emory has also invested in 4,312 shares of Coinbase, the prominent crypto exchange.
Meanwhile, the University of Austin (UATX), which welcomed its inaugural class last autumn, previously declared its intention to allocate a $5 million endowment fund into Bitcoin. Chad Thevenot, the senior vice president for advancement at UATX, explained that the university considers cryptocurrencies on par with other asset classes in terms of long-term investment value.
He stated, “We think there is long-term value there, just the same way that we might think there is long-term value in stocks or real estate.”
As of now, Bitcoin is trading at $96,723, having increased more than 2% in the past week. Monitoring movements in the crypto space remains essential, especially with institutions diving deeper into digital assets.
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It’s crucial to highlight that while emerging technologies like Bitcoin and cryptocurrencies create investment opportunities, they also come with risks. Experts recommend that potential investors do thorough research and consider their capacity for risk, as The Daily Hodl is not a financial advisor and does not endorse cryptocurrency trading.
