American universities (Harvard, Yale, Brown and Michigan) secretly invested in bitcoin through their funds, writes Coindesk, citing sources.
Foundations receive money as charitable donations. They finance educational and research activities. In addition, digital assets are used as investments. For example, the Harvard University fund exceeds $ 40 billion.
The publication notes that it is not known how much each university has invested in cryptocurrency. Educational institutions have been buying bitcoins directly from exchanges for over a year now, the sources say.
In the long term, the cost of the most popular cryptocurrency in the world may exceed $ 50 thousand, analysts of the Luno crypto exchange and the OSK brokerage company predict. According to analysts, the popularity of bitcoin may grow in the next 3-10 years, while gold, on the contrary, risks losing its position. Bitcoin has quadrupled in price over the past year.
However, in January, the fall in the value of bitcoin led to a decrease in the capitalization of the entire crypto market by $ 100 billion.