$744M Goes into Ruffer’s BTC Investments by Taiwo Lawal

An Investment outfit named Ruffer, which is based in the United Kingdom, recently disclosed its BTC holdings today, Wednesday the 16th of December, 2020. It revealed how the firm is moderately capitalizing on the digital asset with an investment already worth £550 million. Ruffer’s Correspondent notes: “Ruffer’s exposure to bitcoin currently totals around £550m, equivalent
The post  $744M Goes into Ruffer’s BTC Investments appeared first on Cryptotvplus.

An Investment outfit named Ruffer, which is based in the United Kingdom, recently disclosed its BTC holdings today, Wednesday the 16th of December, 2020. It revealed how the firm is moderately capitalizing on the digital asset with an investment already worth £550 million.

Ruffer’s Correspondent notes:

“Ruffer’s exposure to bitcoin currently totals around £550m, equivalent to around 2.7% of the firm’s assets under management.”

At press time, £550 million is valued at $744.26 million, an estimated worth of 45,000 BTC, when calculating based on the current November 2020 rates.

Looking at the way countries impulsively resort to excessive quantitative easing whenever they are backed to a corner, this investment move is “primarily a protective move for portfolios” to “act as a hedge” negating “some of the risks that we see in a fragile monetary system and distorted financial markets.”

The investment is estimated to be within the bracket of 2.5% of the multi-strategy fund which also translates to 2.5% of the investment outfit’s total which is higher than $20 billion in assets.

The post  $744M Goes into Ruffer’s BTC Investments appeared first on Cryptotvplus.

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