Ruffer Investment Management Profited $750 million from Bitcoin in Two Months

176
SHARE

“We still have around $700 million left in and are currently up by $750 million overall,” said MacInnes.

Ruffer was skeptical about BTC

MacInnes admitted that Ruffer joined the BTC party a bit late. Nevertheless, MacInnes said that his company was closely following news about the cryptocurrency. Furthermore, Ruffer was always skeptical about the digital token and according to MacInnes, the company wasn’t expecting a quick return on investment from BTC.

“The company is seeing negative interest rates and bond yields everywhere. We’ve seen the war on cash ramping up because of the pandemic. At the same time, everything is going digital – our lives are far more digital than a year ago,” said MacInnes.

In conclusion, Ruffer is one of the largest financial institutions to show interest in cryptocurrency. The interest showcased by financial firms helped push the BTC price further. However, the digital token still needs more guarantees to be more sustainable in the future.

As of this writing, Bitcoin is trading at $37,151 with a coin market capitalization of $690 million.