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University of Austin and $6 Billion Unchained Partner to Launch $5 Million Bitcoin Endowment

May 30, 2024, 11:51 PM

The University of Austin and Unchained, a $6 billion financial services company, have announced a groundbreaking partnership to create a $5 million endowment fund held in Bitcoin. This marks the first university endowment to be seeded with Bitcoin. The fund will utilize multisig collaborative custody and is planned to be held for at least five years. The initiative aims to hold the Bitcoin long term, reflecting the university's confidence in the cryptocurrency's future value.