Unchained, a Bitcoin financial services company, and the University of Austin (UATX) have teamed up to establish a groundbreaking endowment fund. Announced on May 31, this initiative aims to raise $5 million to be invested in Bitcoin over the next five years.
A Pioneering Partnership
Based in Austin, Texas, Unchained revealed its partnership with UATX to create the first long-term endowment fund held entirely in Bitcoin. This collaboration seeks to incorporate Bitcoin into higher education and explore alternative financial strategies that could offer more resilience.
According to the announcement, “By incorporating Bitcoin into its endowment, UATX is setting a precedent for other academic institutions to explore alternative and potentially more resilient financial models.”
Kickoff Contribution and Security Measures
Joseph Kelly, CEO of Unchained, jumpstarted the fund with a personal donation of 2 BTC, valued at approximately $137,000 at current prices. “The world needs more great founders, and we are excited to bring together our communities to build something new,” Kelly stated in a post on X (formerly Twitter) on May 31.
Unchained will also provide a collaborative custody vault to ensure the secure storage of the endowment fund.
Community Engagement and Education
The partnership will foster community engagement through various initiatives, including joint marketing campaigns, events, guest lectures, and debates. These activities aim to educate the public about the benefits of Bitcoin and its potential to transform finance and education.
“This initiative reflects the core missions of both Unchained and UATX, emphasizing sound money principles, resistance to censorship, and challenging the status quo.”
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Broader Trends in University Crypto Investments
University endowments typically consist of financial assets donated to academic institutions, serving as self-sustaining funding sources by not depleting the entire fund balance. UATX is among several American universities exploring cryptocurrency investments.
In March, Cointelegraph reported that Stanford University’s Blyth Fund had increased its portfolio exposure to 7% Bitcoin via BlackRock’s spot Bitcoin ETF. Additionally, Ivy League institutions such as Harvard, Yale, and the Massachusetts Institute of Technology (MIT) have been investing in cryptocurrencies since as early as 2018.
