Ruffer, an investment management company, manages more than $27 billion in funds, and has confirmed that its total bitcoin investment has reached $750 million. A Ruffer spokesperson told news.Bitcoin.com that this is the “main protection measure” for the company’s investment portfolio because the company has reduced its gold investment. Rufu said that his Bitcoin investment is an “insurance policy to prevent the continued devaluation of the world’s major currencies.”
Bitcoin now accounts for 2.7% of Ruffer’s total portfolio
Asset management company Ruffer Group has invested in Bitcoin since November, and at the time of writing, the company’s Bitcoin assets are now worth approximately $750 million.
A Ruffer spokesperson explained to news.Bitcoin.com on Wednesday: “The Ruffer portfolio is designed to protect capital and provide round-the-clock returns, and they have now been allocated to Bitcoin to help us achieve this goal.”
“In November, Ruffer obtained Bitcoin investment through a professional third-party manager. This is mainly a protective measure for the investment portfolio. The spokesperson added:
Rufu’s current investment in Bitcoin is approximately 550 million pounds, which is approximately 2.7% of the company’s assets under management.
The reason for this is that the price of Bitcoin exceeded $20,000, setting a record high. At current prices, a BTC position of 550 million pounds (750 million US dollars) means that the company holds approximately 35,877 BTC, which is approximately 2.7% of its total assets under management (AUM). According to data on its website, as of November 30, Rufu’s total assets under management were approximately £20.3 billion (US$27.4 billion).
Ruffer first informed its shareholders that it had invested in Bitcoin on Tuesday. The company’s press release stated: “We hope to brief shareholders on this year’s performance and let you know about the new distribution of digital currency Bitcoin.” Regarding its Bitcoin investment, the company said: “This is mainly a defensive The move was made in November after reducing the company’s exposure to gold.” At the Bitcoin price level on Tuesday, the company wrote that the exposure to cryptocurrencies “equates to approximately 2.5% of the portfolio” .
The UK-based asset management company was established in 1994 and has offices in London, Edinburgh, Paris, Hong Kong and Guernsey. Ruffer Investment Company Ltd. is the company’s investment company and its shares are listed on the London Stock Exchange (LSE).
“We saw [bitcoin investment] As a small but powerful insurance policy, it can prevent the world’s major currencies from continuing to depreciate. Rufu concluded. “Bitcoin diversifies the company’s (larger) investment in gold and inflation-related bonds, and serves as a hedge against some of the currency and market risks we see. “
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