According to Kole Lee, leader of the Stanford Blockchain Club, Stanford University allocates around 7% of its Blyth Fund to Bitcoin (BTC). The University acquired Bitcoin (BTC) at a price of US$45,000.
Stanford University holds Bitcoin (BTC)
Following approval of Bitcoin ETFs more and more institutional players are gaining exposure to BTC in the USA. According to Kole Lee, a computer science student and leader of the Stanford Blockchain Club, part of the Blyth Fund from Stanford University is in Bitcoin (BTC). Created in 1978 in honor of banker Charles Blyth, the Blyth Fund is managed by students at Stanford University.
Blyth funds are separately managed funds that are part of the expandable fund pool and give students discretion in their investment decisions. So, I thought the ETF was a wonderful opportunity for Blyth to buy Bitcoin.
Kole Lee
The student Kole Lee did not indicate the size of Stanford University’s Bitcoin wallet. We do know, however, that Bitcoin (BTC) represents 7% of Blyth Fund from Stanford University. It is also known that the University acquired its Bitcoins (BTC) at a price of $45,000. At the time of writing, Bitcoin is trading at 67,772 US dollars. This represents a significant profit margin.
Bitcoin is legitimate, rising and safe, says Stanford decision-maker
The interest of Stanford University for Bitcoin (BTC) was triggered by three factors. First, SEC approval of Bitcoin ETFs has made Bitcoin investment accessible and safe. As a result, many institutions are gaining exposure to Bitcoin due to its performance and characteristics as a non-correlated asset.
Stanford University students are also interested in Bitcoin because of its market cycles. To this end, Kole Lee mentions the halving of Bitcoin in April 2024 and halves the rewards for miners. Whereas demand for Bitcoin is on the rise with Bitcoin ETFs in particular, this reduction in supply should logically lead to a rise in the price of Bitcoin.
Finally, Bitcoin (BTC) is of interest to students of Stanford University as it constitutes an alternative to monetary chaos and war. While many countries, including in Europe are facing acute monetary inflation and state funding of warfare is on the rise, Bitcoin (BTC) is a safe bet, believes Kole Lee.
Conclusion
Stanford University knows cryptocurrency. The institution had notably received $5.5 million in crypto from Sam Bankman-Fried before to renounce this donation following the FTX affair. This time, Stanford University seems to be reengaging with the ecosystem in a healthy way. Through its ownership of Bitcoin (BTC), the university is exposing itself to one of the world’s best-performing assets, and is already reaping the rewards.
I dream of a world where every citizen has total control over themselves, including their finances. I believe that Bitcoin is one of the tools that will achieve this revolution. Since 2019, I am learning about this cryptocurrency and spreading the word around.
