I guess they can be categorized as newbies, or they could be amongst us as they've obviously failed to realized that buying at the top. But still though, it could be a big lessons for institutions or companies that are putting crypto in their balance sheet.
It's more than just doing that, they should have at least prepare for the worst so that in case that the price goes down hard, then they won't panic because they have anticipated it. But I guess they didn't that's why they could have been selling at a lost already.
Did you know that Harvard is not only a prestigious university but also an investment management company called HMC? They manage asset worth over $57 billion, including private equity, hedge fund, real estate, and stocks. Of those assets, BTC or ETH accounted for less than 1%. You call them newbies and think they do not know what they are doing? LOL
It is ridiculous that many people here have not even taken the time to learn about Harvard, yet we are quick to judge them simply because they sold ETH or BTC at this time.
https://www.mexc.com/news/732313And what about it? Because someone has a lot of money under their belt they are now suddenly not able to be newbies with something and should be considered super intelligent?
Some of the people that run those investment companies are some of the dumbest and most arrogant pieces of shit that have ever existed. They are less competent than my pet rock. They have made a mistake with this as they have with many other things, like most financial managers do. The reality is that:
- Most financial managers are terrible, similar to average people as was already mentioned by another user. The top 5% are performing great much better than an average person could, but everyone else is shitty.
- Harvard is a junk university that lives on its history and reputation. Most people that go there are spoiled little brats with no competency in any kind of field. Any place where you can get prioritized because of "familial connections" is a shit place when it comes to education.
Large investor and fund typically diversify their assets across a wide range of asset classes. They adhere to risk management discipline and do not allin on a single asset class and expect to get rich quick like many retail investor.
Sounds correct in theory, completely false in most cases. There was no valid reason to make this sale, and even less to make a sale of Bitcoin for some other cases that we have seen. If I own $10 000 and I have a 20 euro bill, I am not going to fucking sell that euro bill as part of my "risk management" -- if I did, I would be an idiot.
Maybe it is meant as a learning experience and not meant as a serious investment choice. But elite universities are a scam. Especially "ivy-league" universities that offer the same education as any standard quality european school.
You get it, but many standard European universities are complete turds too. They are producing completely mediocre people that have degrees which devalues the degrees and is taking an impact on the job market. That is one of the reasons why salaries in Europe are mostly trash, many paper boys, nepotism and other anti-merit bullshit.
Harvard may know if ethereum has no prospect in the future. So they decide to dump all of their ethereum ETF instead of keep some and wait to see how it performs.
To buy something that you believe has "no prospect in the future" 3 months ago does not make sense. Your theory is false.
I can only guess they're shifting to the AI narration.
This may very well be.
