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 Bitcoin financial services company Unchained Capital Inc. and the University of Austin, Texas (UATX) have partnered to establish the first-ever endowment fund denominated entirely in Bitcoin (BTC) at a higher education institution.
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Unchained revealed this move in a<a style="color: #0000ff;" href="https://unchained.com/uatx" rel="noopener noreferrer nofollow"> blog post</a> on May 31, stating that the pioneering initiative aims to raise $5 million, which will remain invested in Bitcoin for at least five years.
The initiative seeks to integrate Bitcoin into higher education, explore novel financial strategies, and further both institutions’ aims of “emphasizing sound money principles, resistance to censorship, and challenging the status quo.”
University endowments, typically consisting of donated financial assets, serve as self-sustaining sources of funding by retaining a portion of the fund balance.&nbsp;&nbsp;
According to the announcement, 
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 “By incorporating bitcoin into its endowment, UATX is setting a precedent for other academic institutions to explore alternative and potentially more resilient financial models.”
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Unchained’s CEO, Joseph Kelly,<a style="color: #0000ff;" href="https://unchained.com/uatx" rel="noopener noreferrer nofollow"> made the first personal contribution</a> to the fund, a donation of 2 BTC, which is currently valued at approximately $137,000.
In a<a style="color: #0000ff;" href="https://twitter.com/josephkelly/status/1796335685479100892?s=19" rel="noopener noreferrer nofollow"> post</a> on X (formerly Twitter), Kelly expressed excitement about the partnership, stating, 
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 “The world needs more great founders, and we are excited to bring together our communities to build something new.”
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In addition to financial support, Unchained will provide a collaborative custody vault to manage the endowment fund securely.
Both institutions also plan to foster community engagement through joint marketing efforts, events, guest lectures, and debates, all geared towards educating the public about Bitcoin’s advantages and potential to transform finance and education.
UATX’s move reflects a growing trend among American universities towards investing in cryptocurrencies.&nbsp; In March 2024, Kole Lee, a computer science major and leader of the Stanford Blockchain Club,<a style="color: #0000ff;" href="https://twitter.com/kolelee_/status/1764745867435921745?t=-yGIKpJUMy1YH7vKh57bXw&amp;s=19" rel="noopener noreferrer nofollow"> announced</a> that the student-managed Blyth Fund at Stanford University allocated approximately 7% of its portfolio to Bitcoin.
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The post <a href="https://defi-planet.com/2024/05/unchained-partners-with-university-of-austin-to-create-higher-eds-first-bitcoin-endowment-fund/" rel="noopener noreferrer nofollow">Unchained Partners With University of Austin to Create Higher Ed’s First Bitcoin Endowment Fund</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Unchained Partners With University of Austin to Create Higher Ed’s First Bitcoin Endowment Fund

DeFi Planet

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