Ruffer Investment shared a significant update with the shareholders regarding the performance highlighting its Bitcoin investments strategy allocating around 2.5 percent of the multi-strategy fund to Bitcoin.
The company is looking to invest a substantial amount of its portfolio to bitcoin to leverage bitcoin’s highly bullish run.
Ruffer Reduces Gold Exposure and Invests in Bitcoin
Ruffer Investment is the latest to join the Bitcoin bandwagon with aligning 2.5 percent of its portfolio to Bitcoin. The company said that it is investing in BTC as a potent insurance policy as the devaluation of the mainstream currencies across the world is happening too fast. Ruffer invests in gold and inflation link bonds, and it looks to diversify its investment with Bitcoin. Many organizations are currently vouching on Bitcoin as a potential hedge to the prevalent market volatility and financial risks.
The firm has reportedly reduced its gold exposure. The official announcement said that “One recent addition, via one of the specialist managers appointed within the Ruffer Multi-Strategies Fund, has been bitcoin. This is primarily a defensive move, one made in November after reducing the company’s exposure to gold.”
Ruffer Investment has more than $620 Million in assets under management, out of which it allocated around $15 Million to bitcoin. Even though the BTC allocation is small compared to the company’s overall AUM, it is a pivotal step towards diversification of investments and an indicator of the company’s focus on Bitcoin.
Considering the extremely bullish run of Bitcoin in recent times and a projected escalation in the future, a lot of mainstream firms are investing heavily in Bitcoin. With payment giant Paypal and tech firms like Square converting their assets to Bitcoin, it is highly evident that other corporates would also follow suit.
Bitcoin, Ethereum, and Other cryptocurrencies are garnering a lot of attention from institutional investors as the global economies struggle amid coronavirus pandemic impact. Grayscale recently procured additional bitcoin taking its overall bitcoin occupancy to $115 Million. Microstrategy has heavily invested in Bitcoin, and many other tech behemoths are diversifying their capital in crypto.
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