The University of Austin (UATX) is planning to welcome its first class this fall and has started a new partnership with cryptocurrency platform Unchained. Together, they aim to collect $5 million worth of Bitcoin (BTC) to add to UATX’s permanent fund. UATX views Bitcoin as a special chance, as reported by Bloomberg.

The University of Austin (UATX) is planning to welcome its first class this fall and has started a new partnership with cryptocurrency platform Unchained. They are working together to raise $5 million in Bitcoin to add to UATX’s ongoing fund. UATX views Bitcoin as a special chance to help further their mission of nurturing future leaders and innovators, as reported by Bloomberg. Incorporating Bitcoin. Thomas Hogan, a new associate professor at the University of Austin, showed excitement for the collaboration, expressing the following sentiment: Bitcoin offers a special chance for UATX to further its dedication to nurturing future leaders and creative minds. Larry Summers, Niall Ferguson, and Joe Lonsdale are among the supporters of the university project, as announced by journalist Bari Weiss, a co-founder of UATX in 2021. The aim is to establish a new university focused on promoting intellectual freedom. Larry Summers is a paid contributor to Bloomberg Television, while Niall Ferguson contributes to Bloomberg Opinion. The President of UATX, Pano Kanelos, mentioned that the university received an increase in donor interest from those unhappy with certain “elite universities” response to the Hamas attacks on Israel on October 7. By the end of last year, the University of Austin had collected almost $200 million, showing early strong support for their goals. Additionally, they have unrestricted control over managing BTC holdings. According to the report, the choice to include Bitcoin in UATX’s endowment was made in response to requests from numerous supporters who were interested in donating cryptocurrency to the university.