Harvard University's Endowment Fund significantly expanded its stake in BlackRock's iShares Bitcoin Trust (IBIT) Spot-Bitcoin-ETF during Q3 2025. The fund reported holding approximately 6.8 million shares, valued at around $443 million USD, marking a more than 250% increase from its prior position of 1.9 million shares ($116 million USD). This investment, though less than 1% of Harvard's total endowment, was declared the university's largest US stock holding and a major portion of its US-listed positions.
The expansion occurred amid high crypto volatility, with Bitcoin's price falling below $100,000 USD and Spot-Bitcoin-ETFs experiencing net outflows. Concurrently, Harvard boosted its Gold-ETF GLD position to 661,391 shares ($235 million USD), signaling a strategic diversification into digital assets and traditional precious metals as hedging tools.
This move reflects growing institutional confidence in regulated cryptocurrency products and a broader shift in portfolios toward inclusive digital and alternative assets. (148 words)
MicroStrategy ramped up its preferred-share activity, with a notable increase in variable-rate preferred issuances. The company raised approximately $704 million through a new euro-denominated preferred IPO and deployed the funds to acquire roughly 6,890 BTC, according to a research note. Decrypt was informed that MicroStrategy's model enables ongoing Bitcoin accumulation per share, as preferred-share funding remains accretive despite tightening premiums.
Bitcoin and other major cryptocurrencies deepened losses late Monday, mirroring a broader decline in risk-on assets. Investors expressed concerns over macroeconomic uncertainties, including U.S. interest rate worries and heavy spending by large tech firms on artificial intelligence initiatives. Bitcoin traded at about $92,200, down 2.3% over the past 24 hours and marking its lowest level since late April, per CoinGecko data. As the largest cryptocurrency by market capitalization, it reflected heightened market volatility.
The value of a $100 bill stems not from its physical utility—you can't eat it, build with it, or legally burn it—but from its scarcity and the limited supply controlled by authorities. This contrasts with everyday paper, making the bill inherently valuable due to how many or few exist.
In 1971, the US abolished the gold standard, transforming the dollar into fiat money. No longer backed by an external resource like gold, it relies solely on government policy to determine currency printing. The dollar's foundation is thus a promise, enforced by the world's largest military.
The text argues that fiat currency's corruption is the root of economic problems and pathologies, as it lacks intrinsic backing beyond governmental decree.
