In a periodic report published on Jan. 18, UK-based asset management firm Ruffer Investments acknowledged its BTC investment.
- Ruffer had previously called Bitcoin “a small but potent insurance policy”, the firm said that it “brings something significantly different to the portfolio” and that it expects more institutions to arrive
- It joins a growing throng of companies to invest in Bitcoin, allocating 2.5% of its total capital towards Bitcoin via Coinbase in Nov. 2020, amounting to roughly $745 million
- Like many other companies, including MicroStrategy, the investment is intended to combat the potential devaluation of fiat currencies
- The investment has proven to be extremely profitable for Ruffer, which has seen it increase by 100% after Bitcoin soared to prices above $40,000; while an incredible run, many analysts predict that BTC’s price could go yet further in 2021