Brown University, a prestigious Ivy League school, has joined the growing list of institutions investing in Bitcoin. The university recently revealed it owns a significant stake in Bitcoin through an exchange-traded fund (ETF).
A $5 Million Bitcoin Investment
According to a recent SEC filing, Brown holds over 105,000 shares of BlackRock’s iShares Bitcoin ETF (IBIT). At the time of the filing, this was valued at approximately $4.9 million. However, with the current Bitcoin price, the investment is now worth closer to $5.8 million.
Following the Trend
Brown isn’t the first university to embrace Bitcoin. Emory University already owns millions of dollars worth of Bitcoin through a different ETF, along with shares in Coinbase. The University of Austin also made headlines last year with plans for a $5 million Bitcoin endowment.
A Long-Term Strategy
The University of Austin’s senior vice president for advancement explained their reasoning, stating that they see Bitcoin as a valuable long-term investment, similar to stocks or real estate. This sentiment likely reflects Brown University’s thinking as well.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your research before investing in any asset, especially high-risk investments like cryptocurrencies.
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