2021-2-4 17:58 |
"We did not expect immediate fireworks,” said a Ruffer executive.
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Ruffer Investment has rationalised its unprecedented resolution to purchase $750 million worth of Bitcoin… The post Ruffer Investment explains decision to purchase Bitcoin appeared first on Coin Journal.
In just one week in 2021, the entire cryptocurrency market’s total capitalization has finally surpassed $ 1 trillion. According to data from Coinmarketcap, the entire crypto market is worth more than $ 1 trillion, beating the highest estimate to date of $820 billion in January 2018.
Investment management firm Ruffer, with over $27 billion under management, has confirmed that its bitcoin investment now totals $750 million. A Ruffer spokesperson told news. Bitcoin. com that this was “primarily a protective” move for the firm’s portfolios, as the firm reduced its gold investment.
One River Digital Asset Management already holds $600 million in bitcoin and ether.
Ruffer Investment Company sent a short update to shareholders on Tuesday notifying them of the company’s allocation to bitcoin.