Bitcoin firm, Texas university partner for $5M endowment fund

Bitcoin financial services firm and UATX plan to raise $5 million to invest in BTC for the next five years.

Bitcoin financial services firm Unchained and the University of Austin have partnered to launch a long-term endowment fund holding Bitcoin . The pair are launching the first long-term endowment fund held in Bitcoin with a goal of raising $5 million, which will remain invested in BTC for at least five years.

This initiative aims to integrate Bitcoin into higher education and explore alternative financial strategies. “By incorporating bitcoin into its endowment, UATX is setting a precedent for other academic institutions to explore alternative and potentially more resilient financial models,” read theJoseph Kelly, CEO of Unchained, kicked off the fund with a personal donation of 2 BTC, which is worth around $137,000 at current prices.

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