The student-run Blyth Fund at Stanford University bought Bitcoin (BTC) at $45,000 in February after a scientist suggested the asset during a meeting. 🎓💰

According to a tweet from Stanford Blockchain Club leader and computer science student Kole Lee, the Blyth Fund allocated approximately 7% of its portfolio to Bitcoin following the acquisition.

In his fund presentation in February, Lee focused on crypto market cycles, exchange-traded fund (ETF) inflows and hedging against “monetary chaos and war.” The computer science scholar floated the idea of ​​investing in the iShares Bitcoin ETF (IBIT), issued by BlackRock, the world's largest asset manager. The outcome of the presentation was the BTC purchase and 7% portfolio allocation to the leading digital asset.

Blyth Fund's BTC purchase is a testament to the growing adoption of the relatively new digital asset. The launch of spot Bitcoin ETFs in the US has taken BTC adoption to unprecedented levels, allowing billions of dollars of capital inflow from the traditional financial sector.