President Donald Trump’s pro-crypto sentiment is reportedly driving the acquisition of Bitcoin (BTC) by charitable organizations and universities in the United States.

According to a recent report by The Financial Times, Trump’s promises to establish the US as a dominant force in the crypto industry have led foundations and universities in the country to accumulate the leading cryptocurrency by market capitalization.

Prominent educational institutions that are gaining exposure to this flagship digital asset include the University of Austin and Emory University in Georgia. Additionally, The Rockefeller Foundation, a philanthropic organization, is considering increasing its holdings of crypto assets.

Chun Lai, the Chief Investment Officer of The Rockefeller Foundation, stated, “We do not possess a crystal ball to predict how cryptocurrencies will evolve in the next 10 years. However, we do not wish to lag behind when their potential is dramatically realized… The cryptocurrency realm is closely linked to the artificial intelligence sphere and the extent of digitization in the economy. Cryptocurrencies can prove useful if the economy becomes more digitized.”

Chad Thevenot, the Senior Vice President for Advancement at the University of Austin, expressed that the university regards investing in crypto assets similarly to investing in other asset classes. He said, “We believe there is long-term value in cryptocurrencies, just as we believe in the long-term value of stocks or real estate.” The University of Austin, which recently opened, is establishing a $5 million BTC fund.

However, some universities, such as the University of Nebraska, are taking a cautious approach towards digital assets. Brian Neale, the Chief Investment Officer of the University of Nebraska Foundation, stated that he does not intend to invest in Bitcoin and crypto until clear regulations are established and more of his peers decide to invest in this asset class. He added, “I believe this administration has the ability to steer things in that direction. However, I do not believe that the president of the United States issuing his own cryptocurrency will be the catalyst that moves cryptocurrencies into the mainstream.”

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