Ruffer LLP is another large investment company originating in the United Kingdom that has a certain part of its portfolio in Bitcoin.
JPMorgan strategists seem right to say that institutional interest in Bitcoin is growing. After the American mutual life insurance company invested $ 100 million in Bitcoin, we have another and even bigger news here.
Information about the London company came from analysts at Trustnodes, who said that Ruffer LLP holds 2.5% of their portfolio in Bitcoins from now on. Looking at the fact that the company manages assets worth more than £ 20 billion, we find that 2.5% represents more than £ 500 million.
A company spokesman said:
We see this as a small but potent insurance policy against the continuing devaluation of the world’s major currencies,
Bitcoin diversifies the company’s (much larger) investments in gold and inflation-linked bonds, and acts as a hedge to some of the monetary and market risks that we see
Ruffer LLP took the move in November “after reducing the company’s exposure to gold,” the company called this investment as “primarily a defensive move.”
“Correction: Ruffer Investment Company, one of four funds of Ruffer LLP, allocated 2.5% of its assets under management to bitcoin, not 2.5% of all Ruffer LLP assets under management as previously mistakenly reported.“
later added by Trustnodes
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