Harvard Expands Digital Asset Holdings with $443M Bitcoin Bet While Diversifying into Gold ETFs
Harvard University has significantly increased its exposure to digital assets, with its Bitcoin position through BlackRock's iShares Bitcoin Trust growing to $442 million in Q3 2023. This marks a substantial increase from $117 million in the previous quarter, now surpassing the institution's stakes in major tech companies like Nvidia, Microsoft, and Amazon.
Simultaneously, Harvard has expanded its gold ETF allocations from $102 million to $235 million, creating a notable 2:1 ratio favoring bitcoin over gold in its alternative asset portfolio. The move comes as gold prices rose above $4,210/ounce amid anticipation of potential Federal Reserve rate cuts.
This strategic allocation suggests institutional confidence in Bitcoin as a store of value, even as traditional safe-haven assets like Gold remain part of the diversification strategy. The timing coincides with market expectations for monetary policy easing, which historically benefits both digital and hard assets.