In a significant institutional endorsement of digital assets, Harvard University dramatically increased its Bitcoin holdings during the third quarter of 2025. According to Bitwise Chief Investment Officer Matt Hougan, the prestigious Ivy League institution boosted its Bitcoin investment from approximately $117 million to $443 million – representing a nearly fourfold increase.
While Harvard also increased its allocation to gold exchange-traded funds (ETFs), the move was far less aggressive. Gold ETF holdings rose from $102 million to $235 million, less than half the dollar amount allocated to Bitcoin. This creates a clear 2-to-1 preference for Bitcoin over gold in Harvard's portfolio, indicating a calculated strategic shift.
The investment adjustment suggests Harvard is positioning itself as a hedge against ongoing concerns about currency debasement. With central banks worldwide continuing to inject liquidity into economies, fears persist that traditional fiat currencies may lose purchasing power over the long term. While gold has historically been the primary inflation hedge, institutions like Harvard now appear to view Bitcoin – with its fixed supply cap of 21 million coins – as a more potent alternative in an uncertain financial landscape.
Hougan interprets this move as more than simple diversification, characterizing it as a strategic bet expressing stronger conviction in Bitcoin's potential to outperform traditional safe-haven assets, particularly in inflationary environments. As one of the world's most prestigious academic institutions with one of the largest endowments, Harvard's investment decisions carry substantial weight and may influence similar moves across university endowments, hedge funds, and family offices.
This development reflects a broader trend of growing institutional confidence in Bitcoin as a legitimate long-term store of value, bolstered by clearer regulatory frameworks and simplified access through ETFs. Once dismissed as too volatile and risky, Bitcoin is increasingly gaining credibility within traditional investment portfolios.
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