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Bitcoin Company and UATX Team Up for $5 Million Endowment Fund
Bitcoin Unchained has partnered with the University of Austin (UATX) to launch the first long-term endowment fund held in the flagship cryptocurrency. The partnership aims to create a strong relationship between the company and the university for the benefit of both communities.
First long-term Bitcoin endowment fund
Thursday Unchained and UATX announced their collaboration to launch an endowment fund. The partnership aims to raise $5 million for the fund, which will remain invested in Bitcoin (BTC) for at least five years.
The Bitcoin company will offer a collaborative custodial vault to store the endowment. Furthermore, it will ensure the safety of the fund and safeguard the BTC holdingsproviding UATX with “a reliable and secure investment vehicle.”
According to the press release, Unchained co-founder and CEO Joseph Kelly started the initiative with a donation of 2 BTC, worth approximately $138,000. In a post on X, Kelly expressed her excitement about bringing both communities together through collaboration.
Unchained's CEO announces collaboration with UATX. Source: Joshep Kelly on X
The partnership seeks to open the door to integrating BTC into higher education, hoping that more academic institutions will engage in “forward-thinking financial strategies.” According to the announcement:
By incorporating Bitcoin into its endowment, UATX is setting a precedent for other academic institutions to explore alternative and potentially more resilient financial models.
More than a financial investment
Unchained said the collaboration is more than “just a financial investment” as it aims to “foster stronger ties between the university and the Bitcoin community.” To achieve this goal, the company and UATX have planned several initiatives, including joint marketing campaigns, events, guest lectures and debates.
In the press release, Unchained highlighted its desire to democratize access to financial tools and knowledge for students through the partnership, hoping to provide them with the resources to “succeed in a rapidly changing world.”
For fundraising and community engagement, they are also planning a series of high-profile events and activities at Bitcoin Commons and other locations across the United States. These events will seek to raise awareness, spark interest in potential donors and open discussions.
Additionally, the collaboration hopes to build a community of passionate supporters of Bitcoin education and content expansion. The partnership also hopes to shape the next generation of scholars and entrepreneurs:
By organizing seminars, workshops and conferences, Unchained and UATX aim to create platforms for dialogue and collaboration, promoting a deeper understanding of Bitcoin’s potential and its impact on society. This approach seeks to inspire a generation of scholars and entrepreneurs equipped to navigate and shape the future of finance and technology.
The recently launched collaboration is not the first approach that the academic world has had with cryptocurrencies. AS reported by Bitcoinist, the Zurich University of Applied Sciences in Business Administration (HWZ) recently announced the first Bitcoin course of its kind.
The course will explore different aspects of the flagship cryptocurrency, including its economic impact on traditional finance, the complex global regulatory landscape, the technical aspects of blockchain technology and more.
Ultimately, these efforts could lay the foundation for broader adoption and acceptance of Bitcoin in academia, building a bridge between traditional learning systems and the new financial landscape.
BTC is trading at $68,416 in the three-day chart. Source: BTCUSDT on TradingView
Featured image from Unsplash.com, chart from TradingView.com