Coindesk Logo

Ruffer Investment Allocated 2.5% of More-Than $20B Portfolio to Bitcoin in November

Ruffer Investment Allocated 2.5% of More-Than $20B Portfolio to Bitcoin in November

Ruffer Investment Allocated 2.5% of More-Than $20B Portfolio to Bitcoin in November

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

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

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

AccessTimeIconDec 15, 2020, 6:09 PM
Updated Aug 19, 2021, 6:08 AM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

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

  • In November, Ruffer allocated what is currently worth approximately 2.5% of its total assets under management to bitcoin, per the memo, an investment currently worth over $740 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," Ruffer said.
  • 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.

Update (Dec. 15, 18:41 UTC): Updated to fix typographical error reflecting that bitcoin gained 40% in November, not $40.
Correction (Dec. 16, 14:05 UTC): An earlier correction to this story was itself wrong and the original version of the article was accurate. As a spokesman for Ruffer clarified the initial memo and directly confirmed to CoinDesk Wednesday morning that the investment firm now holds over $740 million worth of bitcoin.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.