The University of Arkansas Foundation apparently passed up a chance to speculate in bitcoin and missed a big profit as a result. Interesting, because UA just announced a major investment in studying blockchain technology. Bitcoin is an application of blockchain. UA is establishing a Blockchain Center of Excellence at the Walton business school.

The lost profit opportunity?


In 2014, the University of Arkansas Foundation got a gift worth $10,000 in bitcoin to be used at the Arkansas School for Mathematics, Sciences and the Arts. It was the gift of Luther Lowe, a Yelp executive and graduate of ASMSA, to establish a high school course on bitcoin, cryptocurrencies and collective computing.

Lowe commented on Twitter today about the news of UA’s new blockchain initiative.


I asked him about the value of the gift and what’s happened in bitcoin prices since.

When I gave BTC was trading at $570 USD. I gave 17.24 BTC, which equaled just under 10,000 USD. So UArk Foundation could’ve hypothetically set up a limit sell order to hold unless BTC hit 20k (which it did last December), which would’ve been 340K USD.

Even if they would’ve held and sold at the lowest post-crash prices, it would’ve been 103K.

Sold right now, it would be worth $129K

  Noted: The UA Foundation invests hundreds of millions of dollars. It raised almost $300 million in 2018 alone.