Harvard Allocates More to Bitcoin Than Gold, Bitwise CIO Says
Bitwise CIO Matt Hougan said Harvard University currently allocates more to Bitcoin than to gold, marking a notable shift in an elite endowment’s approach to macro hedging. Hougan described Bitcoin as a strategic play on currency debasement, and reported the university’s Bitcoin position exceeds its exposure to gold ETFs—signaling that at least some institutional investors increasingly view BTC as a meaningful reserve asset. The development matters because endowments and large institutions often set trends for wider capital flows; a larger Bitcoin allocation at Harvard could accelerate demand for spot BTC products and influence peers weighing gold versus crypto for portfolio diversification. That said, specifics on the size of the allocation were not disclosed, and volatility plus regulatory uncertainty remain important considerations for institutions moving further into digital assets.