According to Crypto lawyer, John Lore, some universities in the East Coast of the United States have started investing in Bitcoin (BTC). Due to the confidentiality of the information, Lore could not fully disclose which Universities were doing so. The investments are small and into the various cryptocurrency hedge funds available.
John Lore, the founder of Capital Fund Law Group, told Business Insider the following with respect to Universities showing an interest in Crypto investing:
We’re seeing some academic institutions getting involved on a limited basis for strategic reasons.
I can’t say the names of [the academic institutions] because that’s attorney-client but we have people mostly on the East Coast that have begun doing investments in this space on a fairly modest basis…
We see academia as a tie between these somewhat young and enthusiastic fund managers and capital raising.
His Law group specializes in providing legal services to the hedge fund industry and has advised approximately 30 crypto based hedge funds in the last year or so. According to Lore, the new hedge funds get a majority of their investments from high net individuals. The investments are of limited value and magnitude. This might be because the crypto-markets have proven to being volatile for the past few months. Lore added that:
Yes there are investors but at this point, investors are putting in very small percentages of their net worth as we would expect and as I believe is appropriate.
Institutional investors and high net individuals have been showing cautious interest towards investing in cryptocurrencies and blockchain technologies for both are new industries with little or no regulation. The decentralized aspect of the whole crypto-verse might be the reason for their reluctance to jump on board. Also, perhaps being accustomed to ‘business as usual’ of investing has left them with doubts about crypto and blockchain. New technology is usually treated with caution as was the case with the internet back in the 80s and 90s.
But with many investment experts advising that Bitcoin is screaming ‘Buy Right Now’, the cautious institutional investors and high net individuals might be gradually warming up to the new investment industry of crypto.
Current market analysis indicate that Bitcoin (BTC) is currently trading at $7,657 at the moment of writing this. BTC deviation from this level has only seen a 0.7% decrement in the last 24 hours indicating some much needed stability in the crypto-markets as we head into the weekend.