Harvard, the world's top tier institution, has also paid an expensive "tuition fee" of $150 million in the cryptocurrency market, resulting in actual losses. According to the latest 13F position report submitted by Harvard Management Company (HMC), this top global institution has completely failed in cryptocurrency trading, following a textbook style "buy high, sell low" curve: The Bitcoin ETF increased its position by chasing after a high of about $110000, cut its losses by $80000, and incurred a loss of 28%; The Ethereum ETF was launched and opened at a high level (about $4000), but was fully liquidated in less than a quarter (about $2600), with a quarterly drawdown of 35%; A fierce operation resulted in a loss of $150 million. This is not simply a case of "leeks" chasing after the rise and killing the fall, but more likely a trade-off made by top institutions when facing financial pressure and risk control red lines for high liquidity assets: When you need money, the easiest part to sell is always the one that moves first. Harvard BTC ETH