Unchained and the University of Austin (UATX) have announced a collaboration to create a long-term fund that will hold Bitcoin.
“I’ve been incredibly enthusiastic about what UATX is building in Austin,” said Unchained CEO and co-founder Joseph Kelly, who personally donated 2 BTC to kick off the campaign. “I’ve seen the values the organization places on free speech and building a modern academic institution integrated with markets, and I’m excited to play a role in helping the university make Bitcoin part of its long-term strategy.”
The initiative aims to raise $5 million for the university’s endowment, which will remain in BTC for at least five years. The endowment funds will be securely stored and managed by Unchained, a prominent Bitcoin-focused financial services provider. Multisig Bitcoin Vault.
The partnership also aims to integrate UATX with the broader Bitcoin community by collaborating on planned initiatives such as joint marketing campaigns, events, guest speakers and hosted roundtables.
“The university’s endowment is meant to serve our students, and Bitcoin provides a unique opportunity to further UATX’s commitment to developing the next generation of leaders and innovators,” said Thomas Hogan, incoming associate professor in the Center for Economics, Politics and History.
Founded in 2016, Unchained currently manages more than $6 billion in Bitcoin and helps thousands of individuals and businesses hold their own Bitcoin keys through a co-custody model. UT Austin is a private, non-profit institution dedicated to the fearless pursuit of truth, according to the announcement.
“UATX and the Bitcoin community are building an institution for the future at a time when the worlds of higher education and financial services are dominated by vested interests that limit freedom through censorship,” Kelly added. “By choosing Unchained as their partner, the university is demonstrating its appreciation for Bitcoin’s ability to function as a freedom-preserving technology, and our custody model helps ensure there is no single point of failure for long-term holding of UATX.”