Stanford student-run fund makes a remarkable investment in Bitcoin through BlackRock’s IBIT.
Bitcoin bulls maintain upward momentum; Bitcoin remains above $72,000.
The leader of the Stanford Blockchain club, Cole Lee, recently announced that Blyth Fund, a student-run fund managing a portion of Stanford Endowment has purchased Bitcoin at a value of 45,000. Bitcoin now makes up 7% of its portfolio. The investment was made through the iShares Bitcoin ETF (IBIT) product by BlackRock. The new development comes after a pitch on the IBIT product was presented by Lee, back in February.
Lee pointed to the rising demand for Bitcoin ETF as another factor supporting his proposal, adding that crypto exchange traders are likely to increase their Bitcoin holdings in the coming months.
“Recently, there is ~5-10x the demand from ETFs than the amount of Bitcoin produced per day. Don’t forget the additional reflexivity-as crypto exchange traders see inflows, they will buy Bitcoin as well, creating

Czytaj więcej

We współpracy z: https://www.crypto-news-flash.com/bitcoin-on-campus-stanford-student-run-funds-7-allocation-sheds-light-on-complexities-of-btc-venture/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-on-campus-stanford-student-run-funds-7-allocation-sheds-light-on-complexities-of-btc-venture