Unchained and University of Austin Partner for $5M Bitcoin Endowment Fund

 

In a pioneering move, Bitcoin financial services firm Unchained has teamed up with the University of Austin (UATX) to launch a groundbreaking long-term endowment fund held entirely in Bitcoin (BTC). This partnership, announced on May 31, marks a significant step in integrating cryptocurrency into higher education.

Launching the First Bitcoin Endowment Fund

The initiative aims to raise $5 million, which will be invested in Bitcoin for at least five years. This endowment fund is not just a financial venture but also a bold statement about the future of finance and education. By holding the endowment in Bitcoin, UATX is setting a precedent for other academic institutions to consider alternative and potentially more resilient financial models.

Leadership and Initial Contribution

Joseph Kelly, CEO of Unchained, has demonstrated strong leadership and commitment to this initiative by personally donating 2 BTC, approximately worth $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 remarked in a post on X (formerly Twitter) on May 31.

Secure Custody and Community Engagement

Unchained will provide a collaborative custody vault to securely store the Bitcoin endowment fund, ensuring the safety and integrity of the investment. Beyond financial security, the partnership also focuses on community engagement through joint marketing campaigns, events, guest lectures, and debates. These activities aim to educate the public about the benefits of Bitcoin and its transformative potential for finance and education.

Reflecting Core Principles

“This initiative reflects the core missions of both Unchained and UATX, emphasizing sound money principles, resistance to censorship, and challenging the status quo,” the announcement read. By incorporating Bitcoin into its endowment, UATX is not only diversifying its financial portfolio but also embracing innovative financial strategies that align with its mission of fostering forward-thinking education.

Broader Trend in Academia

The University of Austin is not alone in exploring cryptocurrency investments. In March, it was reported that Stanford University’s Blyth Fund had increased its portfolio exposure to 7% BTC through BlackRock’s spot Bitcoin ETF. Additionally, Ivy League universities such as Harvard, Yale, and the Massachusetts Institute of Technology (MIT) have been involved in crypto investments since as early as 2018.

Conclusion

The partnership between Unchained and the University of Austin for a $5 million Bitcoin endowment fund is a significant milestone in the adoption of cryptocurrency within higher education. This innovative approach not only supports the financial stability of academic institutions but also promotes a deeper understanding of Bitcoin’s potential to revolutionize finance.

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