⚯ Michel de Cryptadamus ⚯#harvard's endowment is all in on #crypto
https://www.coindesk.com/business/2025/08/08/harvard-reports-usd116m-stake-in-blackrock-s-ishares-bitcoin-etf-in-latest-filing
#harvard #cryptocurrency #endowment #economics #bitcoin #BTC #IBIT
CaptMorgan@cryptadamist@universeodon.com I thought they were smart people
Dan Sugalski@cryptadamist@universeodon.com the endowment is somewhere past $50B right now, so this isn’t really anything to them. I also know exactly what’s going on, and you’ll see this happening more. FWIW this isn’t new stupid in the system.
Crypto is now an acceptable “alternative investment”, like many hedge fund offerings and such, and for reasons I have never understood (and I worked in finance for years) Conventional Wisdom was that orgs holding large pots of cash (like endowments or retirement funds)…
Dan Sugalski@cryptadamist@universeodon.com …should have a portion of their holdings in these alternative investments for diversification reasons.
Which, on the surface, makes some sense, except that these alternatives are inevitably extremely risky and in many cases can never outperform (or even, often, match) more conventional investment options. So basically they’re all just crappy options masquerading as diversification…
Dan Sugalski@cryptadamist@universeodon.com …should have a portion of their holdings in these alternative investments for diversification reasons.
Which, on the surface, makes some sense, except that these alternatives are inevitably extremely risky and in many cases can never outperform (or even, often, match) more conventional investment options. So basically they’re all just crappy options masquerading as diversification…
Dan Sugalski@cryptadamist@universeodon.com …I have always assumed slick talking scam artists conned some big names and the industry has perpetuated the scam in part to save some fragile egos, in part because it makes firms which otherwise are stupid investment options money, and in part because a lot of people in finance just aren’t very smart and assume that since everyone is doing it that it must be right because they’re all Very Clever.[1]
[1]citation needed, and good luck with that
Dan Sugalski@cryptadamist@universeodon.com …I have always assumed slick talking scam artists conned some big names and the industry has perpetuated the scam in part to save some fragile egos, in part because it makes firms which otherwise are stupid investment options money, and in part because a lot of people in finance just aren’t very smart and assume that since everyone is doing it that it must be right because they’re all Very Clever.[1]
[1]citation needed, and good luck with that
⚯ Michel de Cryptadamus ⚯@wordshaper@weatherishappening.network the citation is literally the plot of The Emperor's New Clothes.
⚯ Michel de Cryptadamus ⚯@wordshaper@weatherishappening.network the citation is literally the plot of The Emperor's New Clothes.