Bitcoin Marketcap
$1.70T
Gold Marketcap
$15.61T
BTC Settlement Volume (24hr)
$12.90B
BTC Inflation Rate (next 1yr)
1.17%
CASEBITCOIN making the case for bitcoin every day
Bitcoin Marketcap
$1.70T
Gold Marketcap
$15.61T
BTC Settlement Volume (24hr)
$12.90B
BTC Inflation Rate (next 1yr)
1.17%
CASEBITCOIN making the case for bitcoin every day
UK Investment Manager - Ruffer Investment Co - announced today that they have allocated 2.5% of their portfolio (£20B total AUM) to Bitcoin, calling it a 'small but potent insurance policy against the continuing devaluation of the world's major currencies.'
Additionally, they noted they made the BTC allocation in November, after 'reducing the company's exposure to gold.' Full text:
Performance Update & Manager Comment We wanted to give shareholders a short update on performance this year and to let you know about a new allocation to the digital currency bitcoin. The portfolio has made strong progress amid the turmoil of 2020. To the 8th December NAV point the NAV total return is 12.2%. During the panic back in March, the protective assets did all we hoped they would. In the spring and early summer, gold and the inflation-linked bonds performed well. More recently, the economically sensitive equities have reacted very positively to the success of the covid-19 vaccines, leading the portfolio higher. One recent addition, via one of the specialist managers appointed within the Ruffer Multi-Strategies Fund, has been bitcoin. This is primarily a defensive move, one made in November after reducing the company's exposure to gold. The exposure to bitcoin is currently equivalent to around 2.5% of the portfolio. 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.
tldr