Harvard University has allocated $500 million to Bitcoin, doubling its $250 million investment in gold, according to Bitwise CIO Matt Hougan. This strategic move, described as a "debasement trade," aims to hedge against potential currency debasement amid rising U.S. debt concerns. Hougan highlighted that Bitcoin's long-term value is increasingly driven by these concerns over fiat currency. Hougan also noted that gold's market cap expanded tenfold following its ETF launch, suggesting that Bitcoin could experience similar growth if it maintains its current 8% share of the gold market. This allocation reflects a growing trend among institutional investors to seek alternatives to traditional fiat currencies as a hedge against economic instability.