bitcoin firm Unchained has partnered with the University of Austin (UATX) to launch the first long-term endowment fund in the flagship cryptocurrency. The partnership seeks to create a strong relationship between the company and the university to benefit both communities.
First long-term bitcoin endowment fund
On Thursday, Unchained and UATX Announced their collaboration to launch an endowment fund. The partnership aims to raise $5 million for the fund, which would remain invested in bitcoin (btc) for at least five years.
The bitcoin firm will offer a collaborative custody vault to store the endowment. Additionally, it will ensure the security of the fund and safeguard btc holdings, providing UATX “a reliable and safe investment vehicle.”
According to the press release, Unchained co-founder and CEO Joseph Kelly kicked off the initiative with a donation of 2 btc, worth around $138,000. In an x post, Kelly expressed her excitement about bringing both communities together with the collaboration.
<img decoding="async" class="size-large wp-image-303113 aligncenter" src="https://technicalterrence.com/wp-content/uploads/2024/05/Bitcoin-Company-and-UATX-Team-Up-for-5-Million-Endowment.png" alt="bitcoin” width=”716″ height=”585″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/05/Bitcoin-Company-and-UATX-Team-Up-for-5-Million-Endowment.png 716w, https://bitcoinist.com/wp-content/uploads/2024/05/Captura-de-Pantalla-2024-05-31-a-las-8.58.15-a.-m.png?w=514 514w” sizes=”(max-width: 716px) 100vw, 716px” data-recalc-dims=”1″/>
Unchained's CEO announces collaboration with UATX. Source:x.com/josephkelly/status/1796335685479100892" target="_blank" rel="noopener nofollow"> Joshep Kelly on x
The partnership seeks to open the door to btc integration into higher education, with the hope that more academic institutions will commit to “forward-thinking financial strategies.” According to the announcement:
By adding bitcoin to its endowment, UATX is setting a precedent for other academic institutions to explore alternative and potentially more resilient financial models.
More than a financial investment
Unchained stated that the collaboration is more than “just a financial investment,” as it aims to “foster stronger ties between the university and the bitcoin community.” To achieve this, the firm and UATX have planned several initiatives, including joint marketing campaigns, events, guest lectures and debates.
In the press release, Unchained emphasized its desire to democratize access to financial tools and knowledge for students through the partnership, hoping to provide them with resources to “succeed in a rapidly changing world.”
For fundraising and community engagement, they are also planning a series of high-profile events and activities at bitcoin Commons and other locations across the United States. These events will seek to raise awareness, generate interest in potential donors, and open discussions.
Additionally, the collaboration hopes to build a community of passionate supporters of bitcoin education and its expansion. The association also hopes to train the next generation of academics and entrepreneurs:
By hosting seminars, workshops and conferences, Unchained and UATX aim to create platforms for dialogue and collaboration, promoting a deeper understanding of bitcoin's potential and its impact on society. This approach seeks to inspire a generation of academics and entrepreneurs who are prepared to navigate and shape the future of finance and technology.
The recently launched collaboration is not the first approach the academy has had with cryptocurrencies. As Bitcoinist reported, the Zurich University of Applied Sciences in Business Administration (HWZ) recently announced the first-of-its-kind bitcoin course.
The course will explore different facets of the flagship cryptocurrency, including its economic impact on traditional finance, the complex regulatory landscape globally, the technical aspects of blockchain technology, and more.
Ultimately, these efforts could lay the groundwork for broader adoption and support of bitcoin in academia, building a bridge between traditional learning systems and the new financial landscape.
<img loading="lazy" decoding="async" class="size-large wp-image-303112 aligncenter" src="https://technicalterrence.com/wp-content/uploads/2024/05/1717197584_930_Bitcoin-Company-and-UATX-Team-Up-for-5-Million-Endowment.png" alt="bitcoin, btc, BTCUSDT” width=”980″ height=”459″ srcset=”https://bitcoinist.com/wp-content/uploads/2024/05/BTCUSDT_2024-05-31_08-20-17.png?w=1008 1008w, https://bitcoinist.com/wp-content/uploads/2024/05/BTCUSDT_2024-05-31_08-20-17.png?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/05/BTCUSDT_2024-05-31_08-20-17.png?w=768 768w, https://technicalterrence.com/wp-content/uploads/2024/05/1717197584_930_Bitcoin-Company-and-UATX-Team-Up-for-5-Million-Endowment.png 980w, https://bitcoinist.com/wp-content/uploads/2024/05/BTCUSDT_2024-05-31_08-20-17.png?w=750 750w” sizes=”(max-width: 980px) 100vw, 980px” data-recalc-dims=”1″/>
btc is trading at $68,416 in the three-day chart. Source: BTCUSDT on x/npK2Lhut/" target="_blank" rel="noopener nofollow">TradingView
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