Harvard Queima US$40 Milhões em Apostas no Bitcoin Enquanto Mercado de Cripto Desaba

O lendário endowment de Harvard leva uma facada de US$40 milhões com a queda do Bitcoin—porque até os gênios de Ivy League podem ser pegos no FOMO.

Quando a bolha estoura, até os melhores perdem. A universidade mais rica do mundo agora aprende essa lição na pele—e na carteira.

Eis o que acontece quando acadêmicos superintelectualizados tentam surfar a volatilidade das criptomoedas. Enquanto isso, traders de garagem riem—e seguem comprando a queda.

Bitcoin slump cuts into Harvard’s trade

On paper, the loss barely dents Harvard’s balance sheet. The school runs a $57 billion endowment, the largest in the United States. The Bitcoin position listed as of September 30 made up less than 1% of total assets. Still, the timing shows how deeply Bitcoin now sits inside large institutional portfolios. Big money kept flowing in even after prices ran far ahead of past cycles. Before the pullback, Bitcoin had gained 34% in 2025, setting a record above $126,000.

Harvard’s wider investment record shows mixed results over time. Over the past decade, the endowment delivered an 8.2% annualized return, ranking ninth out of ten among Ivy League and peer schools tracked by Markov Processes International. Results improved under current chief N. P. “Narv” Narvekar.

During his eight-year run, the endowment posted a 9.6% annualized return. For the year ending June 30, Harvard reported an 11.9% gain, trailing Massachusetts Institute of Technology at 14.8% and Stanford University at 14.3%.

Other schools hold smaller crypto stakes

Other universities also showed exposure during the third quarter, though at far lower levels. Brown University reported about $14 million in the BlackRock Bitcoin ETF.

Emory University disclosed roughly $52 million in the Grayscale Bitcoin Mini Trust ETF. Paper losses do not always force action for long-term investors like endowments and pension systems as long as cash remains available in other parts of the portfolio. Many large funds have lived through extreme crypto swings before.

Public pensions were among the groups hit during the market crash in 2022. Since that low point, Bitcoin prices have more than quintupled, restoring value for investors who stayed in.

Some investors still reject crypto as a fit for long holding periods. Jay Hatfield, chief executive of Infrastructure Capital Advisors, summed up that view in plain terms when he said, “When you’re gambling, you need to sell it, not hold it.” Harvard’s position stays tied to the next move in Bitcoin today.

Sign up to Bybit and start trading with $30,050 in welcome gifts