Brown University has announced its investment in the iShares Bitcoin Trust fund, triggering a surge in Bitcoin's market.
Bitcoin Becomes Part of Brown University's Assets
Brown University, one of the oldest educational institutions in the United States, disclosed a $4.9 million investment in BlackRock’s iShares Bitcoin Trust (IBIT). This makes the university the third American institution to declare direct Bitcoin holdings.
Market Reaction to Brown University’s Investment
Institutional acquisitions have helped prepare Bitcoin’s price for its fourth consecutive positive weekly close. According to Glassnode data, long-term Bitcoin investors have added 254,000 BTC to their holdings over the past three months.
What the Investment Means for the Future of Cryptocurrency Market
The university’s investment is seen as a positive signal for the crypto market, particularly given the recent trend of capital shifting from gold to Bitcoin. Analysts note that the $92,000 level is a critical support point for the new bull cycle.
Brown University’s investment in Bitcoin highlights the increasing interest of educational institutions in cryptocurrencies and may signal new trends in the market.
