Stanford University's Blyth Fund has allocated 7% of its investment portfolio to Bitcoin

Stanford University's Blyth Foundation allocates 7% of its investment portfolio specifically to Bitcoin. Kole Lee, a computer science major and leader of the Stanford University Blockchain Club, stated that the foundation purchased Bitcoin in February at a price of $45,000.

Lee mentioned that this was a strategic decision based on optimism for the future growth of Bitcoin and as a hedge against currency instability. Meanwhile, asset management company BlackRock plans to introduce exposure to Bitcoin in its Strategic Income Opportunities Fund. The fund currently manages assets worth $36.5 billion.