18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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Yale’s Endowment Manager Allocated into Cryptos

While this might seem like a meaningless side addendum in a much larger bear market for cryptos, it might just turn out to be important. Swensen isn’t a man to be trifled with and his performance at Yale is second to none.

David Swensen, who’s known as Yale’s ‘Warren Buffett’ because of his investing success with the university’s endowment, is making his first big bets on cryptocurrency following the recent swoon in the price of bitcoin and other digital currencies.

Swensen, who is chief investment officer of Yale’s $29.4 billion endowment, has invested in two venture funds dedicated to cryptocurrency, according to people familiar with the matter.

Swensen’s team invested in Andreessen Horowitz’s inaugural $300 million crypto fund, which closed in June, said the sources, who declined to be named because the investment was confidential. It also backed Paradigm, a new blockchain and cryptocurrency-focused fund started by Coinbase co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang, the people said.

Is BTC a buy? Who the fuck knows. If 2017 was the 2000 in dot com terms, the term will come, in earnest, around 2020. Perhaps now is a good time to begin accumulating, now that everyone things BTC is a joke.

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One comment

  1. dipakmisra

    good one

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