Yale’s David Swensen, who runs a $30 bln endowment, is now jumping feet first into cryptocurrencies by investing in Andreessen Horowitz and Paradigm, according to CNBC. The exact amount of these investments could not be determined. Meanwhile, the representatives of the two venture funds declined to comment on the matter.
Wall Street titan Michael Novogratz, the CEO of cryptocurrency firm Galaxy Digital, immediately took to Twitter to call Swensen the world’s most influential investor whose decision to put money in crypto funds means that Bitcoin is a store of value.
This is really big news. David Swenson the most influential investor in the world. By making this investment he just said the bitcoin is a store of value. He’s the alpha bull of the herd. Congrats @_charlienoyes @FEhrsam https://t.co/uUsz4MOvwI— Michael Novogratz (@novogratz) October 5, 2018
Indeed, Swensen had an enormous impact on the way other major endowments operate today. There are also plenty of books about his successful investment strategies.