Multi-Dollar Billion Firm Ruffer Explains Its $745 Million Bitcoin Bet

From decrypt.co

Guernsey-based asset manager Ruffer is reassuring its investors that the company remains confident in its “unconventional” Bitcoin investment. The firm, which manages $20.3 billion in assets and has offices in London and Paris, announced in December that it allocated 2.5% of its Multi-Strategies Fund to Bitcoin. That amounts to roughly £550 million in Bitcoin, or about $746 million at today’s exchange rate. Ruffer also has exposure to Bitcoin via two proxy equities: companies MicroStrategy and Galaxy Digital. Business intelligence firm MicroStrategy currently holds around $2.5 billion worth of Bitcoin in its ... (full story)