Harvard Management Company has reported a staggering loss of over $1.5 billion from its cryptocurrency investments within a year. The company initially entered the crypto market in Q2 2025, significantly increasing its Bitcoin holdings by 257% as prices soared. However, the cost basis for Bitcoin ranged between $107,000 and $114,000, leading to substantial losses as prices fell. In Q4 2025, Harvard Management Company diversified into Ethereum, purchasing at $4,000 per ETH. The firm quickly liquidated its entire Ethereum position after just one quarter, further contributing to its financial setbacks. The rapid entry and exit from these positions highlight the volatility and risk associated with cryptocurrency investments.