Harvard University has significantly increased its Bitcoin holdings to $500 million, doubling its allocation compared to gold, which stands at $250 million. This strategic shift, revealed by Bitwise CIO Matt Hougan, reflects growing concerns over the rising U.S. debt and its impact on long-term fiat currency stability. The decision marks a notable change in Harvard's hedge strategy, emphasizing Bitcoin as a stronger hedge against currency debasement. During the third quarter, Harvard raised its Bitcoin allocation from $117 million to $443 million, while also increasing its gold ETF holdings from $102 million to $235 million. Hougan described this move as a "debasement trade," aimed at protecting against currency dilution driven by debt growth. He highlighted that half of all U.S. debt has accumulated in the last decade, with annual interest payments nearing $1 trillion. Hougan compared Bitcoin's current market position to gold's expansion in 2004, noting that Bitcoin's market value is about 8% of gold's current market size. This strategic allocation by Harvard underscores a broader institutional shift towards reassessing traditional portfolio protection in light of escalating debt concerns.