Yale CIO David Swensen's investments in Andreessen & Paradigm crypto funds represent a vote of confidence for an asset class that's yet to see the support of major endowments and foundations.
"People are excited about it but afraid of being the first, or having to explain themselves," said Bill Barhydt, CEO of cryptocurrency exchange Abra. "That's the fear vs. greed of institutional investing. There's a herd mentality there as much as there is in retail investing."
The most influential endowment manager just jumped into crypto with bets on two Silicon Valley funds
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David F. Swensen, chief investment officer of the Yale University Investments Office.
David Swensen, who's known as Yale's 'Warren Buffett' because of his investing success with the university's endowment, is making his first big bets on cryptocurrency following the recent swoon in the price of bitcoin and other digital currencies.
Swensen, who is chief investment officer of the university's $29.4 billion endowment, has invested in two venture funds dedicated to cryptocurrency, according to people familiar with the matter.
