The team that manages the Fund of Yale University at $29.4 billion, entered the market of digital assets by investing in two cryptocurrency Fund. It is reported by CNBC, citing people familiar with the matter.
News channel recalled that the chief investment officer of the Fund is David Svendson (David Swenson), for investment success with University funds nicknamed the “Yale Warren Buffett”. Svendson, began work in the University’s endowment in 1985, when its volume amounted to $1 billion.
According to an unnamed source, CNBC, the team of Svendson invested in cryptocurrency crypto a16z Fund, launched in June, the venture capital company Andreessen Horowitz. To name the sum of investments he has refused, citing the confidentiality of the information.
The Fund also invested in the University Fund the newly created Paradigm, focused on blockchain and cryptocurrency. Paradigm has launched the Coinbase co-founder Fred Arcam (Fred Ehrsam), a former Sequoia Capital partner Matt Juan (Matt Huang) and Charles Noyes (Charles Noyes), a former employee of cryptofauna Pantera Capital.
Recall that he is Warren Buffett (Warren Buffett) , with which compare Svendson, extremely negative attitude towards cryptocurrencies. Legendary investor called bitcoin a bubble, predicted the cryptocurrency “bad end” and compared BTC with “rat poison in the square.” The head of Berkshire Hathaway fully supported by his Deputy and longtime associate Charlie Munger (Charlie Munger), who believes bitcoin “is a combination of dementia and immorality” and “useless artificial gold“.
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