Unchained and the University of Austin (UATX) have announced their collaboration to create a long-term endowment with bitcoin.
“I am very passionate about what UATX is building in Austin,” said Joseph Kelly, CEO and co-founder of Unchained, who personally donated 2 btc to start this campaign. “I have seen the values that the organization places on freedom of expression and building a modern academic institution that is integrated with the market, and I am delighted to play a role in helping the university make bitcoin part of its strategy long-term”.
The initiative aims to raise $5 million for the university's endowment, and the funds will be committed to remain in btc for at least five years. The endowment funds will be held securely and managed by Unchained, a leading bitcoin financial services provider specializing in multi-signature bitcoin vaults.
The partnership also seeks to merge UATX with the broader bitcoin community by collaborating on planned efforts such as joint marketing campaigns, events, guest lectures, and hosted discussions.
“University endowments are intended to serve students, and bitcoin provides a unique opportunity to advance UATX's commitment to cultivating future generations of leaders and innovators,” said Thomas Hogan, incoming associate professor at the Center for Economics, Politics and History. .
Founded in 2016, Unchained currently manages over $6 billion in bitcoin, helping thousands of people and businesses hold their own bitcoin keys through its collaborative custody model. According to the statement, the University of Austin is a private, nonprofit institution dedicated to the fearless pursuit of truth.
“Both UATX and the bitcoin community are building institutions for the future at a time when their respective worlds of higher education and financial services are captured by entrenched powers that limit freedoms through censorship,” Kelly added. “By choosing Unchained as a partner, the university is also signaling its assessment of bitcoin's role as a freedom-preserving technology, with our escrow model helping to ensure there is no single point of failure for long-term holdings. of UATX”.
