President Donald Trump’s support for cryptocurrencies is reportedly encouraging US charities and universities to accumulate Bitcoin (BTC). A recent report by The Financial Times reveals that Trump’s commitment to making the US a crypto powerhouse has led foundations and universities in the country to acquire the leading cryptocurrency by market capitalization.
Prominent educational institutions, such as the University of Austin and Emory University in Georgia, have shown an interest in the flagship digital asset. Additionally, The Rockefeller Foundation, a philanthropy group, is considering increasing its holdings of crypto assets.
Chun Lai, Chief Investment Officer of The Rockefeller Foundation, stated, “We cannot predict the future of cryptocurrencies in the next ten years. However, we do not want to be left behind when their potential becomes significant… The crypto space is closely associated with the artificial intelligence sector and the level of digitization in the economy. Cryptocurrencies can be valuable if the economy becomes more digitized.”
Chad Thevenot, Senior Vice President for Advancement at the University of Austin, explained that the university views investing in crypto assets similarly to investing in other asset classes. He said, “We believe there is long-term value there, just as we believe there is long-term value in stocks or real estate.” The University of Austin, which opened last year, is currently raising a $5 million BTC fund.
However, some universities like the University of Nebraska are taking a more cautious approach towards digital assets. Brian Neale, Chief Investment Officer of the University of Nebraska Foundation, expressed that he will not invest in Bitcoin and crypto until clear regulations are established and more institutions decide to enter the asset class.
Neale further added, “I believe this administration has the potential to move things in that direction. However, I don’t think the president of the United States issuing his own cryptocurrency will be the catalyst that brings cryptocurrencies into the mainstream.”
Do not miss any updates – Subscribe now to receive email alerts directly in your inbox.
Check the latest price action.
Follow us on X, Facebook, and Telegram.
Read The Daily Hodl Mix.
Generated Image: Midjourney
