Yes @gentleshaid and it is called delayed umbilical cord clamping and it is recommended by both WHO and ACOG. I forgot the exact time that we have to allow blood to transfer through and its about 1 minute. It has so many advantages and benefits to newborn for that you can read below articles that i shared.

https://www.acog.org/clinical/clinical-guidance/committee-opinion/articles/2020/12/delayed-umbilical-cord-clamping-after-birth
https://www.ncbi.nlm.nih.gov/books/NBK310514/
Instead of throwing and burying it you can use it for education purpose for studying normal histology and there are many conditions related placenta are there - Hydatidiform mole, invasive mole, choriocarcinoma, choriongoma etc...