Correction (Dec. 15, 18:49 UTC): Ruffer allotted 2.5% of its multi-strategies fund to bitcoin, not 2.% of its whole AUM, as was beforehand reported. The overall allocation is value roughly $15 million.
Ruffer Funding Firm despatched a brief replace to shareholders notifying them of the corporate’s allocation to bitcoin.
- In November, Ruffer allotted what’s at present value roughly 2.5% of its multi-strategies fund to bitcoin, per the memo, or roughly $15 million. The fund manages roughly $620 billion.
- “We see this as a small however potent insurance coverage coverage in opposition to the persevering with devaluation of the world’s main currencies,” the London-based agency wrote.
- “Bitcoin diversifies the corporate’s (a lot bigger) investments in gold and inflation-linked bonds, and acts as a hedge to a few of the financial and market dangers that we see.”
- The four-paragraph memo was despatched to shareholders Tuesday.
- Bitcoin gained over 40% in November, closing the month by setting a new record high above $19,850.
Replace (Dec. 15, 18:41 UTC): Up to date to repair typographical error reflecting bitcoin gained 40% in November, not $40.
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