Yale University’s Chief Investment Officer David Swensen, dubbed the ‘Warren Buffet’ of the school’s endowment fund, apparently has a predilection for making smart investments that earned him his moniker, and now Swensen is placing bets on two venture funds dedicated to digital currencies, per a report.

With $29.4 billion under his management, it’s safe to say that Swensen has faith in these cryptocurrency funds, giving Bitcoin and its peers a much-needed vote of confidence. Swensen’s investment team has already allocated capital towards Andreessen Horowitz’s inaugural $300 million crypto fund, but it closed early this summer.

Other forays by Swensen into the cryptocurrency space include an investment in Paradigm, a blockchain and cryptocurrency-focused fund that was started by Coinbase co-founder Fred Ehrsam in conjunction with former Sequoia Capital partner Matt Huang.

Swensen’s investing prowess is the stuff of legends, dating back to 1985 when Yale’s endowment fund was a paltry $1 billion compared to its current size. Per CNBC, “Yale’s endowment returned an annualized 7.4 percent in the past decade and 11.8 percent over 20 years, according to its annual report. The fund gained 12.3 percent from June 2017 through June 2018, the university announced this week. Harvard University, with a $39.2 billion endowment, posted a 10 percent gain.”

Bitcoin’s price currently stands at $6,593.60 as of 12:00 p.m. ET.

A Bitcoin ETF in 2019?

The price of Bitcoin reached a high of $20,000 in late December of last year, but has since lost over 60% of its value as digital currencies continue to face concerns regarding manipulation and security. Despite efforts by various firms to bring Bitcoin and other cryptocurrencies under regulatory control, Bitcoin ETFs continue to face an obstructed path to legitimacy in the investment space and despite efforts by firms, they keep encountering resistance in the form of the Securities and Exchange Commission.