Unchained and the University of Austin (UATX) announced a collaboration to create the first long-term endowment holding in Bitcoin. These organizations are committed to raising $5 million in Bitcoin for the University’s long-term endowment; the proceeds from which the University has committed will remain in Bitcoin for a minimum of five years.
Unchained’s CEO and co-founder Joseph Kelly personally donated 2 bitcoin to inaugurate the campaign. This initial donation, along with Unchained’s ongoing commitment to secure and manage the account, sets the stage for more collaboration between UATX and the Bitcoin community.
The organizations will bring these two respective communities together in a way that benefits both and the industry at large. The main efforts will include joint marketing campaigns, events, guest lectures, and hosted debates.
KEY QUOTES:
“I’ve been very passionate about what UATX is building in Austin. I’ve seen the values the organization places on free speech and on building a modern academic institution that’s integrated with the marketplace, and I’m thrilled to play a role in helping the university make bitcoin a part of its long term strategy.”
“Both UATX and the bitcoin community are building innovative institutions for the future. By choosing Unchained as a partner, the university is signaling its assessment of bitcoin’s function as a freedom-preserving technology, with our custody model helping to ensure there is no single point of failure to UATX’s long-term bitcoin holdings.”
- Joseph Kelly
“University endowments are about serving students, and bitcoin provides a unique opportunity for advancing UATX’s commitment to cultivating future generations of leaders and innovators.”
- Thomas Hogan, incoming Associate Professor, Center for Economics, Politics, and History
