Last Updated on June 8, 2021 by Jason
Ruffer Investment Management, based in the UK, made a profit of $1.1 billion as a result of investing in Bitcoin. The company explained that it sold its Bitcoin because younger people weren’t going to be spending as much time trading because restrictions were lifting on lockdowns.
Investment director Hamish Baillie said, “When the price double we took some profits for our clients in December and early January. We actively managed the position and by the time we sold the last tranche in April the total profit was slightly more than $1.1 billion”.
The company has invested 2.5% of its portfolio into Bitcoin, and it claims that it has approximately $700 million worth of Bitcoin left in the game.