British fund supervisor Ruffer Funding Administration final month made a guess on bitcoin now price round £550m ($745m), a spokesman for the corporate informed Reuters, in one of many largest indicators of rising institutional curiosity within the digital foreign money this 12 months.
The allocation by Ruffer, which managed £20.3bn ($27.3bn) in property at end-November on behalf of greater than 6,500 traders globally, “acts as a hedge to a number of the dangers that we see in a fragile financial system and distorted monetary markets,” the spokesman stated by way of e-mail.
The allocation was made via a third-party supervisor, and represents round 2.7% of Ruffer’s whole property, he added.
