UK investment management Firm Added Bitcoin to Its Portfolio, Steering Clear From Gold

By Jenny Aurora | December 23, 2020

Ruffer Investment Company Limited – an investment managing firm from the UK – has reportedly revealed detailed information regarding its new Bitcoin strategy. 

Specifically, the UK-headquartered asset manager, with shares listed on the London Stock Exchange, has reportedly made Bitcoin a part of its Multi-Strategies Fund – an initiative with the main target to build up defense towards the “continued devaluation” of fiat money. 

At the moment, approximately 2,5% of Ruffer Investment’s overall asset is in the form of Bitcoin. 

The allocation shift was reportedly finalized back in November this year, following Ruffer’s initiative to bring down its exposure to gold in its attempt to gradually shift towards BTC.

“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.” The asset manager reportedly remarked. 

Prior to Ruffer’s initiative, JPMorgan Chase has reportedly stated that Bitcoin is silently winning the market share from gold. During a public note to its customers in the second week of December, quantitative strategies led by Nikolaos Panigirtzoglou reportedly claimed that Bitcoin adoption may result in “structural headwinds” for gold.

“If this medium to longer-term thesis proves right, the price of gold would suffer from a structural headwind over the coming years.”

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