{"id":111495,"date":"2021-02-05T12:44:40","date_gmt":"2021-02-05T12:44:40","guid":{"rendered":"https:\/\/precoinnews.com\/?p=111495"},"modified":"2021-02-05T12:44:40","modified_gmt":"2021-02-05T12:44:40","slug":"in-two-months-ruffer-makes-750-million-profit-from-bitcoin-investment","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/in-two-months-ruffer-makes-750-million-profit-from-bitcoin-investment\/","title":{"rendered":"In two months, Ruffer makes $750 million profit from Bitcoin investment"},"content":{"rendered":"

UK-based firm Ruffer has managed to make $750 million of profit following an increase in the value of its initial investment in Bitcoin.\u00a0<\/span>The investment company, which manages $27.3 billion in assets allocated 2.5% of its multi strategies fund to Bitcoin last year in November<\/span>. This amounted to a $15 million purchase <\/span>according<\/span> to Alex Kr\u00fcger.<\/span><\/p>\n

Upon the growth in their investment, Ruffer chose to sell the asset, which allowed them to earn a significant amount of profit. <\/span><\/p>\n

Additionally, co-manager of Ruffer Investment, Duncan MacInnes told<\/span> The Telegraph <\/span><\/i>that financial market conditions for Bitcoin right now “could not be better.” MacInnes further added:<\/p>\n

\n

We still have around $700 million left in and are currently up by $750 million overall. <\/span><\/p>\n<\/blockquote>\n

\n

We\u2019ve been surprised by how well it has done and how quickly. We did not expect immediate fireworks.<\/span><\/p>\n<\/blockquote>\n

The firm\u2019s Chairman Jonathan Ruffer earlier said that Bitcoin is \u201cbecoming a challenger to gold\u2019s\u201d and was a \u201csupra-currency.\u201d He believed that the company\u2019s Bitcoin holding would help them in the event of devaluation of fiat.\u00a0<\/span>At the time, Jonathan Ruffer believed that his company made a timely decision to invest in Bitcoin when it did.\u00a0<\/span><\/p>\n

Last year, Ruffer\u2019s Bitcoin purchases happened to be the biggest such investment, for any hedge fund that has bought the crypto, at least in one go. Earlier, Singapore based Three Arrows Capital, which is another hedge fund, made a billion-dollar <\/span>purchase<\/span> of stock traded Bitcoin.<\/span><\/p>\n

Bitcoin has been down by 0.6% in the past hour and was trading at $36,860, at press time.\u00a0<\/span><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

UK-based firm Ruffer has managed to make<\/p>\n","protected":false},"author":3,"featured_media":111494,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"\nIn two months, Ruffer makes $750 million profit from Bitcoin investment - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/bitcoin\/in-two-months-ruffer-makes-750-million-profit-from-bitcoin-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"In two months, Ruffer makes $750 million profit from Bitcoin investment - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"UK-based firm Ruffer has managed to make\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/bitcoin\/in-two-months-ruffer-makes-750-million-profit-from-bitcoin-investment\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-05T12:44:40+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/02\/ccryptafotoanimals-731213_1280-1000x600-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/in-two-months-ruffer-makes-750-million-profit-from-bitcoin-investment\/\",\"url\":\"https:\/\/precoinnews.com\/bitcoin\/in-two-months-ruffer-makes-750-million-profit-from-bitcoin-investment\/\",\"name\":\"In two months, Ruffer makes $750 million profit from Bitcoin investment - 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