In the news making headlines in the cryptocurrency industry, Harvard University Endowment has made an investment in the crypto token sale of Blockstack.
Blockstack Offering 95.83 million Crypto Tokens
A filing made with the US Securities Exchange Commission listed designees affiliated to the Havard Management Company including Charlie Saravia, Rodolfo Gonzalez, and Zavain Dar who have been participating in the purchase of 95.8 million Blockstack tokens, worth $11.5 million. Although it’s not clear how much the Harvard University Endowment has purchased, it is, however, the first time a major endowment has invested in cryptocurrency.
In a tweet, Anthony Pompliano of Morgan Creek Digital indicated that Havard Endowment had directly invested $5 million to $10 million in the Blockstack token sale.
This investment from a leading university is going viral, and it’s a move that will hopefully encourage other institutional investors to invest in crypto tokens as well. The attitude is building up, and this will encourage investors to try small crypto tokens such as TCAT tokens.
Institutional Investors Seeking Regulated Custodians
Institutional investors have been hesitant about getting involved in the crypto market and with major assets such as Bitcoin (available on Coinbase), the reason being crypto’s lack of regulations. Even when Bitcoin (available on Coinbase) was on a bullish run in 2017, achieving a price of $20,000, there were no regulated investment channels or custodial solutions that could encourage the institution to invest in crypto. In 2018, however, the trend began to change, and institutional investors have slowly started dripping their toes in the crypto waters.