Ruffer Investment Allocated About $675M of $27B Portfolio to Bitcoin in November

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Ruffer Investment Company sent a short update to shareholders notifying them of the company’s allocation to bitcoin.

  • In November, Ruffer allocated what is currently worth approximately 2.5% of its portfolio to bitcoin (BTC, +1.41%), per the memo, or roughly $675 million. The firm manages roughly $27 billion.
  • “We see this as a small but potent insurance policy against the continuing devaluation of the world’s major currencies,” the London-based firm wrote.
  • “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 four-paragraph memo was sent to shareholders Tuesday.
  • Bitcoin gained over 40% in November, closing the month by setting a new record high above $19,850.

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