Bitcoin (BTC)
$
118,531achieving prices beyond $100,000 has become the new normal; however, years ago, discussing six-digit prices would have seemed purely fantastical. The past statements by prominent figures from elite institutions like Harvard highlight how improbable today’s reality once seemed. But what did Harvard previously proclaim about Bitcoin, and what is its stance now?
Harvard’s Perspective on Bitcoin
In 2017, when Bitcoin (BTC) reached its all-time high, it was the first time investors were convinced that $20,000 was achievable. This price, which seemed incredibly risky amid the bear market of 2022, represented a thrilling prospect of profitability in 2017. Many remember the tumultuous days of 2018 when BTC plummeted below even $4,000.
There were dark days, with frequent discussions of Bitcoin diving even deeper. One significant voice was Prof. Kenneth Rogoff from Harvard University. In a CNBC broadcast, he speculated that the likelihood of Bitcoin falling to $100 by 2028 was higher than it reaching $100,000.
“I believe that if we fast forward 10 years, Bitcoin will be worth a mere fraction of its current price… I think the probability of it hitting $100 is much higher than $100,000 in ten years.”
In March 2018, when BTC was declining from $9,000 to $7,000, and by year-end reaching a stark $3,200, Kenneth was convinced that his predictions would be validated in a decade, warranting applause from all.
I distinctly recall predicting that $40,400 would serve as a solid foundation for an upward trend, especially with the ETF approval possibly propelling BTC towards its all-time high. Granted, although Gensler exhibited animosity towards cryptocurrencies, regulatory proceedings led to the ETF approval, creating opportunities for investors seeking to reduce risk.
Bitcoin’s Journey to 2025 and Harvard’s Investment
Today, BTC exceeds $118,000, bolstered by recent 13-F reports indicating Harvard University’s investment of $116.7 million in BTC ETFs. Years have passed since they dismissed the likelihood of BTC reaching $100,000 compared to $100, and now they possess 1.9 million IBIT shares.
In the second quarter, Harvard’s Bitcoin investment surpassed their stakes in major companies like Nvidia and Google, positioning them as the 29th largest among 1,300 major IBIT ETF investors. How much gold ETF does Harvard hold? SPDR Gold Trust assets amount to roughly $100 million, marking Bitcoin as the more significant investment.
Significantly, Harvard is not alone. Brown University also holds 13 billion dollars in ETFs.
