Academic institutions investing in crypto for “strategic reasons”, says lawyer

Universities in the United States are starting to make investments in the cryptocurrency space, according to a lawyer working in the industry.

John Lore is the founder of Capital Fund Law Group, and has spoken about the way he has seen the academic work approach virtual currencies.

He told Business Insider: “We’re seeing some academic institutions getting involved on a limited basis for strategic reasons. I can’t say the names of [the academic institutions] because that’s attorney-client but we have people mostly on the East Coast that have begun doing investments in this space on a fairly modest basis.

“At this point, investors are putting in very small percentages of their net worth as we would expect as I believe is appropriate… We see academia as a tie between these somewhat young and enthusiastic fund managers and capital raising.”

Yesterday we reported on Ripple’s plans to donate $50 million to universities in order to support education in the blockchain and cryptocurrency spaces.

According to Lore, investments are currently coming from “high net worth” individuals and some family offices, and he does not expect institutional investors to get involved any time soon.