US foundations and university endowments are ramping up their exposure to cryptocurrencies to join the digital assets rush prompted by President Donald Trump’s promise to make the nation the world’s “bitcoin superpower”.
Crypto has far outperformed other asset classes over the past five years despite its high volatility, with many who have stood on the sidelines now jumping in for fear of missing out on the runaway price jumps.
The one-year-old University of Austin is raising a $5mn bitcoin fund, the first of its kind among the country’s endowments and foundations, for its $200mn endowment.
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