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

Hedge against monetary and market risks

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

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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