Ruffer IC replaces gold with bitcoin as 'potent insurance policy'

Hedge against monetary and market risks

David Brenchley
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Ruffer has replaced some of its gold holding with bitcoin
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Ruffer has replaced some of its gold holding with bitcoin

Ruffer Investment Company has added a position in Bitcoin to its portfolio as a "hedge to some of the monetary and market risks" its management team sees in the post-Covid-19 environment.

Ruffer said Bitcoin had been introduced to its portfolio through one it the specialist managers appointed within the Ruffer Multi-Strategies fund. The position accounts for around 2.5% of Ruffer's portfolio. In a statement on Tuesday, the managers said it was "primarily a defensive move", made in November after the investment company reduced its exposure to gold. Ruffer's MacInnes and Ker: Money printer won't always go 'brrrrr' The managers said: "We see this as a small but potent insurance policy against the continuing devaluation of the world's major currencies. "Bitcoin diver...

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