U.S. Markets open in 8 hrs 1 min

  • S&P Futures

    4,070.25
    -14.00 (-0.34%)
     

  • Dow Futures

    33,947.00
    -99.00 (-0.29%)
     

  • Nasdaq Futures

    12,171.25
    -51.00 (-0.42%)
     

  • Russell 2000 Futures

    1,912.20
    -7.30 (-0.38%)
     

  • Crude Oil

    79.22
    -0.46 (-0.58%)
     

  • Gold

    1,945.10
    -0.50 (-0.03%)
     

  • Silver

    23.83
    +0.21 (+0.88%)
     

  • EUR/USD

    1.0872
    -0.0002 (-0.0217%)
     

  • 10-Yr Bond

    3.5180
    0.0000 (0.00%)
     

  • Vix

    18.51
    -0.22 (-1.17%)
     

  • GBP/USD

    1.2390
    -0.0005 (-0.0397%)
     

  • USD/JPY

    129.5240
    -0.2800 (-0.2157%)
     

  • BTC-USD

    23,730.33
    +496.01 (+2.13%)
     

  • CMC Crypto 200

    538.23
    +21.22 (+4.10%)
     

  • FTSE 100

    7,765.15
    +4.04 (+0.05%)
     

  • Nikkei 225

    27,433.40
    +50.84 (+0.19%)
     

Ruffer Investment Confirms Massive Bitcoin Buy of $744M

Zack Voell
·1 min read

U.K.-based Ruffer confirmed the size of its tremendous bitcoin investment from November in an email to CoinDesk Wednesday.

  • “Ruffer’s exposure to bitcoin currently totals around £550m, equivalent to around 2.7% of the firm’s assets under management,” a spokesperson told CoinDesk in an email.

  • Based on current exchange rates, £550 million is worth $744.26 million or roughly 45,000 BTC based on November 2020 prices.

  • The investment was “primarily a protective move for portfolios” to “act as a hedge” against “some of the risks that we see in a fragile monetary system and distorted financial markets.”

  • Ambiguous wording in Ruffer’s initial shareholder memo created uncertainty whether the investment was 2.5% of the multi-strategy fund or 2.5% of the funds total more than $20 billion in managed assets.

Related Stories

Recommended Stories