Harvard Sells Entire $87 Million Ethereum Holding Amid Price Dip
Harvard Management Company has sold its entire $87 million worth of Ethereum (ETH) according to its Q1 13F filing with the SEC. The Harvard Management Company is the entity that manages Harvard University’s endowment fund. The Q1 exit came amid a market-wide downtrend for the crypto sector, with ETH falling to the $1800 mark in early February. Why Did Harvard Exit Its Ethereum Position? Source: Pixabay Ethereum (ETH) has faced quite a price dip over the last few days. According to CoinGecko data, ETH’s price has dipped by 0.2% in the last 24 hours, 6% in the last week, 6.7% in the 14-day charts, and 10% over the previous month. Source: CoinGecko It is possible that Harvard Management Company anticipated Ethereum’s (ETH) price to dip, given the bearish market forces. The US-Iran war was in full effect in Q1 of this year, and macroeconomic worries were piling up. The latest inflation data has come in higher than expected, which has significantly reduced the chances of an interest rate cu...