Harvard Bought Cryptocurrency – That’s a Ridiculously Big Deal
According to Morgan Creek Digital’s Anthony Pompliano and the token sale filing submitted by Blockstack to the U.S. Securities and Exchange Commission (SEC), Harvard University’s endowment invested in Blockstack’s crypto token sale. The filing noted that designees of affiliates of the Harvard Management Company including Charlie Saravia, Zavain Dar, and Rodolfo Gonzalez participated in the purchase of 95,833,333 Stacks Tokens.
“The token advisory board consists of seven members. Three of the members, Charlie Saravia, Zavain Dar, and Rodolfo Gonzalez are designees of affiliates of the Harvard Management Company, Lux Capital and Foundation Capital, respectively, limited partners of the QP Fund which have purchased an aggregate of 95,833,333 Stacks Tokens; the board also consists of four independent members, Koen Langendoen, Arvind Narayanan, Arianna Simpson, and Catherine Tucker,” the filing read.
Although it remains unclear how much of the 95.83 million Stacks Tokens the affiliates of the Havard Management Company invested in, it is said to be the first case in which a major university endowment directly invested in a crypto token.