The University of Austin is launching a Bitcoin investment
fund as part of its $200 million endowment. The fund, worth over $5 million, is
designed to invest in Bitcoin. Chun Lai, the foundation’s chief investment
officer, stated the university did not want to miss out on Bitcoin’s potential.
Meanwhile, BTCUSD has been consolidating at 95,700, a key
support level, following a bearish move on the intraday charts.
Bitcoin Adoption by Universities Gains Momentum
This move follows a similar one by Emory University, which
disclosed a $15 million Bitcoin investment in October. Emory became the first US
university endowment to report holdings in Bitcoin ETFs.
Institutional adoption of Bitcoin, including ETFs, could
help raise Bitcoin’s price. Large institutions often control significant
capital, which can influence markets. Continued adoption by such institutions
is necessary for Bitcoin to reach new highs.
The University of Austin plans a minimum five-year holding
strategy. Chad Thevenot, Senior Vice President at the university, compared
Bitcoin’s long-term value to that of stocks or real estate.
JUST IN: 🇺🇸 University of Austin to buy $5m Bitcoin.”We don’t want to be left behind” says CIO of the university fund. pic.twitter.com/CUQpJGF5ZA
— Bitcoin Archive (@BTC_Archive) February 9, 2025
BTCUSD Forms Potential Double Bottom Pattern
The BTCUSD H1 chart shows that after rejecting the 98,000
level, the price moved downward. However, the 95,700 level has held as support,
where the price has reacted several times before. The price bounced earlier
today, and another bullish reversal candle could form a Double Bottom, a strong
bullish reversal pattern. In that case, the price may rise.
On the other hand, if the price breaks below 95,700, sellers
may look to short upon breakout confirmation, followed by a bearish reversal
pattern.
Meanwhile, DeepSeek
AI has outlined three potential scenarios for Bitcoin in 2025. In the base
case, Bitcoin is expected to trade between $100,000 and $150,000, as reported
by Finance Magnates.
In a bullish “hyperbitcoinization” phase, the price could
reach $350,000. A black swan scenario, however, sees Bitcoin peaking at
$500,000. These projections are based on expectations of increased
institutional adoption and the growing acceptance of blockchain in global
finance.
Younger Generations Prefer Crypto for Pensions
Cryptocurrencies are also gaining popularity among
retirement funds, especially with younger generations. A report from Bitget
Research found that 20% of Gen Z and Alpha are open to receiving pensions in
cryptocurrency.
Additionally, 78% of respondents showed more trust in
alternative retirement savings options over traditional pension funds. These
trends reflect a shift towards decentralized finance and blockchain solutions.
This article was written by Tareq Sikder at www.financemagnates.com.
Source link
