The financial services firm Unchained and the University of Texas have partnered to launch a long-term endowment fund in bitcoin ( BTC). Joseph Kelly, CEO and co-founder of Unchained, set the ball rolling with a personal donation of two bitcoins. The bitcoin financial services firm also intends to connect UATX faculty and their research with key industry audiences.
Bitcoin Firm Unchained Partners With University of Texas to Launch $5 Million Bitcoin Endowment Fund
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Collaboration Sets Precedent for Other Academic Institutions
The bitcoin financial services firm Unchained recently announced a partnership with the University of Texas (UATX) to establish the first long-term endowment fund held in bitcoin ( BTC). The goal of this collaboration is to raise $5 million, which will be invested in BTC for at least five years.
In a statement, Unchained characterized this initiative as an important step in the quest to integrate bitcoin into higher education. According to the statement, Joseph Kelly, CEO and co-founder of Unchained, set the ball rolling with a personal donation of two BTC. Described as a natural fit for UATX, the higher learning institution’s collaboration reportedly sets a precedent for other academic institutions to follow.
Commenting on his firm’s partnership with UATX, the Unchained CEO stated:
I believe deeply in UATX’s commitment to free speech and their innovative curriculum dedicated to empowering the next generation of great founders. This partnership brings together Unchained’s expertise in bitcoin financial services and the university’s unique approach to education.
The statement revealed that the partnership arrangement also aims to foster stronger ties between UATX and the crypto community. In addition to launching and raising funds for the endowment fund, Unchained plans to donate a collaborative custody vault to store the endowment securely.
The bitcoin financial services firm also intends to connect UATX faculty and their research with key industry audiences. The intention is to bridge the gap between academia and the cryptocurency community.
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