Ruffer Asset Manager Confirms $ 750 Million Bitcoin Investment as Hedge Against Fiat Currency Depreciation

Investment management firm Ruffer, with over $ 27 billion under management, has confirmed that its bitcoin investment now totals $ 750 million. A spokesman for Ruffer told that this was a “largely defensive move” for the company’s portfolios, as the company reduced its gold investment. Ruffer says its bitcoin investment is “an insurance policy against the continued devaluation of the world’s major currencies.”

Bitcoin Now 2.7% of Ruffer’s Total Portfolio

Asset management company Ruffer Group began investing in bitcoin in November and the company’s bitcoin holdings are now worth about $ 750 million at the time of writing this report.

A spokesman for Ruffer explained to on Wednesday, “Ruffer’s portfolios aim to retain capital and provide good all-weather returns, and they now have an allocation to bitcoin to help us achieve that objective.”

“In November, Ruffer had access to bitcoin through an expert third-party manager. This was primarily a defensive move for portfolios. It diversifies Ruffer’s portfolio investments in gold and inflation-linked bonds, and acts as a hedge for some of the risks we see in a fragile financial system and distorted financial markets, ”the spokesperson added, adding:

Ruffer’s exposure to bitcoin currently amounts to approximately £ 550m, equivalent to approximately 2.7% of the company’s assets under management.

The explanation came as the price of bitcoin surpassed the $ 20,000 mark, always setting a new peak. A BTC position of £ 550 million ($ 750 million) for the price at which the explanation was sent would mean that the company holds about 37,500 BTC, which is about 2.7% of its total asset under management (AUM). According to its website, Ruffer’s total AUM was about £ 20.3 billion ($ 27.4 billion) as of November 30.

Ruffer first informed its shareholders that it had invested in bitcoin on Tuesday. “We wanted to give shareholders a brief update on this year’s performance and let you know about a new allocation to the bitcoin digital currency,” says the company’s press release. As for its bitcoin investment, the company described “This is a largely defensive move, one made in November after reducing the company’s exposure to gold.” On the bitcoin price level on Tuesday, the company wrote that exposure to the cryptocurrency “equates to about 2.5% of the portfolio.”

Established in 1994, the UK asset manager has offices in London, Edinburgh, Paris, Hong Kong, and Guernsey. Ruffer Investment Company Ltd. is the company’s investment company with shares listed on the London Stock Exchange (LSE).

“We see this [bitcoin investment] as a small but powerful insurance policy against the ongoing devaluation of the world’s major currencies, ”concluded Ruffer. “Bitcoin is diversifying the company’s (much larger) investments in gold and inflation-linked bonds, and acts as a hedge for some of the financial and market risks we see.”

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