Harvard sells 21% of its Bitcoin ETF to buy $87 million in Ethereum.
Responses debate over capital rotation possibilities.
One says this is simply administration work and nothing of concern.
While the crypto market continues to trade at lower prices, all promising assets show bullish signals towards reclaiming higher targets. Today, both BTC and ETH seem to have claimed slightly higher targets compared to yesterday. As for the crypto community, one notable face in the community notes how Harvard sells 21% of its Bitcoin ETF to buy $87 million in Ethereum, sparking a discussion.
Harvard Sells 21% of its Bitcoin ETF to Buy $87 Million in Ethereum
According to CoinMarketCap analytics, the price of BTC is trading up compared to a week before. At the moment, the pioneer crypto asset is trading in the $67,000 price range, marking a rise of over 1.44%. Similarly, the price of ETH, the pioneer altcoin asset, is back over the $2,000 price range, signaling a surge of over 2.5% over the last week. This may be a bullish sign of recovery as many bull analyst were expecting.
https://twitter.com/AshCrypto/status/2023342780194644456
As we can see from the post above, this reputed face in the crypto community highlights how Harvard just sold 21% of its Bitcoin ETF to buy $87 million in Ethereum ETF. This sparks an intense debate over the entity having possibly swapped BTC for ETH. Does this signal the start of institutional capital rotation, leading to more institutional entities buying more ETH over BTC in the coming months?
Last year, once BTC had set most of its ATHs, many entities started accumulating more ETH over BTC as the 4-year bull cycle blueprint hinted at capital to flow into altcoins after BTC’s massive price surge. However, this cycle's altseason failed to arrive, leading to heavy losses for altcoin holders. Despite this, many continue to accumulate promising altcoins, including financial and institutional entities.
Capital Rotation in Play?
A big reason for this is the 5-year supercycle theory that expects crypto prices to rise once again, meaning now is a strong time to accumulate, and whales and institutions are doing just that. As for why Harvard swapped BTC for ETH, one response to the post answers this question. To highlight, the response says that just because a university updated its spreadsheet does not mean they lost faith in BTC.
It's not like Harvard is dumping Bitcoin to chase an Ethereum pump. No, big money works differently, they have strict rules about percentages. So, if Bitcoin goes up a lot, they have to sell some to buy the other stuff just to keep the balance even. It’s not a massive vote of confidence or a secret signal that Ethereum is about to moon; it’s just boring administrative math, nothing to overthink about, it concludes.