Harvard paid a heavy tuition fee in crypto this cycle. 😂 A university endowment chasing BTC at $100K, buying ETH at $4K, rotating from BTC to ETH, and then cutting both positions by the next 13F filing. The narrative writes itself. But let’s add some analytical nuance. A 13F only reveals end-of-quarter holdings, not the exact entry or exit price. Harvard could have sold at any point during Q4 or Q1. The widely reported $150M loss is likely overstated, but the directional trend is clear. The pivot from BTC to ETH, followed by a full exit, screams a failed macro bet. This is a classic lesson on institutional lag. Many assume top universities are "smart money." The reality is that large capital moves slowly. By the time Harvard rotated into ETH, the momentum was already fading. Their timing was a mirror of retail FOMO, just with a bigger bank account. The takeaway here is not to mock Harvard. It is to question the assumption that institutions always get it right. Often, they are just large, slow, and reactive. You might not be able to out-trade a hedge fund, but you can certainly avoid the mistakes of a lumbering endowment. So, stay confident. You can’t lose more than Harvard did. 😉