The University of Austin is launching a Bitcoin investment fund as part of its $200 million endowment. The fund, worth over $5 million, is designed to invest in Bitcoin. Chun Lai, the foundation’s chief investment officer, stated the university did not want to miss out on Bitcoin's potential.

Meanwhile, BTCUSD has been consolidating at 95,700, a key support level, following a bearish move on the intraday charts.

Bitcoin Adoption by Universities Gains Momentum

This move follows a similar one by Emory University, which disclosed a $15 million Bitcoin investment in October. Emory became the first US university endowment to report holdings in Bitcoin ETFs.

Institutional adoption of Bitcoin, including ETFs, could help raise Bitcoin’s price. Large institutions often control significant capital, which can influence markets. Continued adoption by such institutions is necessary for Bitcoin to reach new highs.

The University of Austin plans a minimum five-year holding strategy. Chad Thevenot, Senior Vice President at the university, compared Bitcoin’s long-term value to that of stocks or real estate.

BTCUSD Forms Potential Double Bottom Pattern

The BTCUSD H1 chart shows that after rejecting the 98,000 level, the price moved downward. However, the 95,700 level has held as support, where the price has reacted several times before. The price bounced earlier today, and another bullish reversal candle could form a Double Bottom, a strong bullish reversal pattern. In that case, the price may rise.

On the other hand, if the price breaks below 95,700, sellers may look to short upon breakout confirmation, followed by a bearish reversal pattern.

BTCUSD, H1 Chart, Source: TradingView
BTCUSD, H1 Chart, Source: TradingView

Younger Generations Prefer Crypto for Pensions

Cryptocurrencies are also gaining popularity among retirement funds, especially with younger generations. A report from Bitget Research found that 20% of Gen Z and Alpha are open to receiving pensions in cryptocurrency.

Additionally, 78% of respondents showed more trust in alternative retirement savings options over traditional pension funds. These trends reflect a shift towards decentralized finance and blockchain solutions.

Source: Finance Magnates