The Lahore University of Management Sciences (LUMS) has officially disclosed its cryptocurrency holdings in the audited financial statements for the fiscal year ending June 30, 2024. The total value of the digital asset portfolio stands at Rs463 million.
These holdings are diversified across several blockchain tokens. Stacks (STX) represents the largest share at over Rs395 million, followed by Bitcoin at Rs43 million, Ethereum at approximately Rs22 million, and Solana at nearly Rs2 million.
LUMS categorized these digital assets as intangible assets with indefinite useful lives. No impairment losses were identified during the annual assessment. The valuation was based on fair market estimates using data from Coinbase Exchange.
Notably, returns earned from these cryptocurrency investments were allocated to sponsored projects aimed at promoting education and research. A portion of the Stacks holdings also generated returns in Bitcoin, contributing to the university’s diversified crypto strategy.
This disclosure highlights LUMS’s forward-looking approach, using digital assets as a tool to fund innovation and align with its long-term academic and research objectives.