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Unchained, a Bitcoin financial services firm, has partnered with the University of Austin (UATX) to establish a groundbreaking endowment fund in Bitcoin. This collaboration aims to raise $5 million, with the funds remaining invested in Bitcoin for a minimum of five years.
This initiative seeks to integrate Bitcoin into higher education, promoting alternative financial strategies. According to the announcement, “By incorporating bitcoin into its endowment, UATX is setting a precedent for other academic institutions to explore alternative and potentially more resilient financial models.”
Joseph Kelly, CEO of Unchained, contributed 2 BTC (approximately $137,000) to kickstart the fund. He expressed enthusiasm for the project on X, stating, “The world needs more great founders, and we are excited to bring together our communities to build something new.”
Unchained will secure the endowment fund through a collaborative custody vault. Additionally, the initiative plans to engage the community through marketing campaigns, events, guest lectures, and debates to educate the public on Bitcoin’s potential to revolutionize finance and education.
Reflecting on the mission, the announcement emphasized, “This initiative reflects the core missions of both Unchained and UATX, emphasizing sound money principles, resistance to censorship, and challenging the status quo.”