Harvard Swaps Gold for Bitcoin in $116M Endowment Move
Ivy League Giant Expands Portfolio with BlackRock’s Bitcoin ETF Stake
Harvard University’s latest 13-F filing with the U.S. Securities and Exchange Commission reveals a landmark shift in its investment strategy, as its endowment, managed by Harvard Management Company (HMC), commits $116.67 million to BlackRock’s iShares Bitcoin Trust (IBIT). The move signals a bold embrace of digital assets, placing Bitcoin alongside gold as part of the institution’s diversified portfolio.
HMC, known for its broad approach across alternative assets such as private equity, hedge funds, and public equities, has also maintained significant positions in market-leading technology firms. The filing shows major stakes in Microsoft valued at $10.03 billion (623,300 shares), Amazon at $234.98 million (1.07 million shares), Alphabet at $113.88 million (646,200 shares), and Nvidia at $104.40 million (660,831 shares). The portfolio further includes $120.50 million in Meta Platforms and $53.12 million in Broadcom.
Beyond the tech sector, Harvard’s investments extend to a $101.51 million position in the SPDR Gold Trust, offering a traditional hedge alongside its new Bitcoin exposure. The endowment also holds shares in biotech innovators like 10X Genomics and Maze Therapeutics, entertainment and gaming firm Light & Wonder, and travel giant Booking Holdings.
A particularly notable position is in Purecycle Technologies, with $3.02 million allocated to warrants and $26.07 million in common shares, underscoring Harvard’s confidence in sustainable recycling solutions. This blend of cutting-edge innovation, from artificial intelligence to cryptocurrency, balanced with long-standing safe havens like gold, reflects a strategic alignment with both modern and traditional investment trends.
The disclosure has sparked attention across social media, with Bitcoin advocates hailing the move as a significant milestone for cryptocurrency adoption within elite academic institutions. Harvard’s endorsement could further legitimize Bitcoin as a serious asset class among institutional investors.
