Money is nothing more or less than a commodity to be used wisely for the greatest possible personal and family benefit. Its value lies not in what it is, but in what it can do. -Unknown
CoinSheet #217
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COIN BULLETIN
Yale endowment invests into crypto funds
I said I was going to cover this, so here we go.
David F. Swensen (chief investment officer of the Yale University Investments Office) has invested in two funds dedicated to cryptocurrencies (Andreessen Horowitz and Paradigm).
I should point out (because it isn't obvious) that they didn't just invest in these funds two weeks ago (Andreessen Horowitz's inaugural $300 million crypto fund closed in June).
Anyways, this investment is important.
As a person, you can probably relate that your self-perception is one of the hardest thing you have to overcome.
You know that shitty feeling of not wanting to do something first because you're afraid of looking stupid.
Well, everyone has that feeling.
And Swensen is the cool kid on the playground who just went first (this wasn't the first endowment to invest in crypto, but the first one that is "cool").
So what now?
It looks like bitcoin should now be an indispensable part of an investor's portfolio.
Or so says Yale economist Aleh Tsyvinski. (Yale ECONOMIST??!?, yeah, it's funny how these things work).
This Yale economist is saying that even if you think bitcoin will perform terribly, you should still hold 1%.
