Harvard did not respond to a request for comment about its decision to invest in Bitcoin.
Even with a recent slump in Bitcoin prices, IBIT’s total market cap is well over $70 billion. Although Harvard’s $442 million stake in BlackRock’s Bitcoin ETF is yet another sign of crypto’s growing institutional acceptance, a year of wins for the industry hasn’t translated to a big price increase for Bitcoin. In the last year, Bitcoin has gone up less than 0.5%, a fraction of the S&P 500’s 13% rise during that time. Bitcoin shot up to its all-time high price of almost $126,000 last month but is down roughly 27% to less than $92,000.
