It is being reported by Use the Bitcoin that recenntly Blockstack filed details about its token sale with the U.S. Securities and Exchange Commission (SEC). From these filings it has been revealed that Harvard University invested a notable amount into Stack Token.
According to the document, three men associated with the Harvard Management Company collectively bought about 95 million Stack Tokens. From the filing:
“Charlie Saravia, Zavain Dar, and Rodolfo Gonzalez are designees of affiliates of the Harvard Management Company, Lux Capital, and Foundation Capital, respectively, limited partners of the QP Fund which have purchased an aggregate of 95,833,333 Stacks Tokens.”
This marks the first time that a major University has specifically invested into cryptocurrency. According to the article, it was Blockstack’s decision to seek SEC approval that got Harvard’s attention in the first place.
It is looking quite optimistic for cryptocurrency now that places of high esteem such as Harvard are getting involved. CEO of Pantera Capital, Dan Morehead, is also quoted in the article:
“People have been talking about years on the impending institutional wave of money coming into the markets and I think we now actually have the required conditions for that to happen. Institutional investors really want to have a custodian that is well-known and regulated.”
Is this the beginning of a larger trend? Or just a blip on the radar? Stick with Chepicap for all updates!
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