Harvard's recent investment moves are quite interesting - in the third quarter, they directly pulled their Bitcoin position from $117 million to $443 million, an increase of nearly 4 times. At the same time, gold ETFs did not fall, from 102 million to 235 million.

This operation is worth pondering. Traditional prestigious school foundations have begun to allocate digital assets in a large way, and they are not all in, but double insurance with gold. While betting on the growth space of blockchain, it is holding on to traditional safe-haven assets and not letting go. To be honest, this kind of top institutional action is much more effective than retail investors shouting orders - they use real money to tell the market that Bitcoin is no longer a marginal asset, but the kind that can be on an equal footing with gold and enter a formal investment portfolio. For the crypto market as a whole, this recognition carries more weight than any positive news.