Recently, I came across an interesting piece of data: Harvard University significantly increased its allocation to digital assets in Q3.

They boosted their Bitcoin holdings from $117 million directly to $443 million, nearly a fourfold increase. During the same period, their gold ETF holdings also rose from $102 million to $235 million. What's more important is the allocation ratio—Bitcoin to gold is 2:1, showing a clear preference for BTC.

This move is actually quite straightforward: top institutions are betting on the major trend of currency depreciation. In an environment where fiat currency’s credibility may continue to erode, Harvard chose to hedge with digital gold plus physical gold, and the digital portion is twice that of traditional safe-haven assets.

When large endowments from traditional elite universities start making heavy allocations like this, it also sends a signal to the market to some extent.