The London-based asset management company, Ruffer Investment, has reportedly invested substantial amounts of money into Bitcoin (BTC) – becoming the latest multi-billion conventional finance company to do so this year alone. As per the company’s memo that it sent to shareholders, Ruffer committed 2.5% of its total Multi Strategies Fund, which is approximately $15 million as the fund currently holds about $620 million. Without a doubt, this development could be interpreted as yet another massive win for the crypto going mainstream.
Ruffer states that their investment in BTC is but a small yet compelling insurance policy that may one day do them good once the devaluation of the world’s most prominent currencies starts to get out of hand. The company adds that BTC successfully diversifies its gold investments and inflation-linked bonds. Simultaneously, BTC can readily act as an effective hedge to mitigate some of the most prevalent financial and market risks present today.
As briefly brushed upon above, Ruffer becomes the latest well-established traditional investment and tech company to commit to the dominant crypto. Just this past June, prominent business intelligence company, MicroStrategy, became the spark on this still-surging trend by placing large amounts of reserve assets towards Bitcoin. And now, the company has not looked back ever since – now holding over half a billion dollars in BTC assets as of press time.