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Now, here’s where it gets interesting: There are only 21 million Bitcoins in existence, and rumor has it, some of them are already lost in the ether-probably sitting on some guy’s hard drive from 2010. So if Brazil decides to scoop up 1 million BTC over five years, that’s like taking a giant scoop of ice cream before anyone else gets a chance. Sure, if they take their sweet time, we might not notice the price skyrocketing immediately. But eventually, those steady government purchases could create a demand surge, or at least give traders something to gossip about at the water cooler. And let’s be real, when a country decides to buy Bitcoin, it basically screams, “We believe in this digital gold!”

Indeed, Bitcoin’s once-magnificent long-term rally seems to have met with some rather distressing circumstances, remaining in a state of disarray until it manages to reclaim its rightful place above the fabled $85,000 mark, as noted by the astute Mr. Péquignot of Deribit.

Harvard Management Company, the grown-up behind the curtain of the university’s funds, has tripled its stake in the iShares Bitcoin Trust (IBIT) to roughly $442.8 million, translating to about 6.8 million IBIT shares. Harvard now sits among the fund’s top 20 holders-because apparently you can’t resist a regulated midlife crisis.

This grand experiment, we are told, is to test whether blockchain can inject a modicum of efficiency into the sovereign debt markets. A noble endeavor, indeed, though one cannot help but wonder if the bureaucrats have mistaken their ledgers for a stage and their bonds for prima ballerinas.