An investment company with shares listed on the London Stock Exchange boasted a gigantic profit on BTC.
London-based Ruffer Investment Company Ltd also proves its qualities in the cryptocurrencies market, specifically in Bitcoin.
The investment company, which managed more than $ 27 billion at the end of December 2020, boasted that it had earned more than $ 1.1 billion in Bitcoin investments in 5 months.
This gigantic profit was mentioned by Hamish Baillie, an investment director at Ruffer, who also told The Times that the company had invested its first $ 600 million in November last year.
When the price doubled 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.
Ruffer Investment made headlines already in December when it officially announced that its investment in Bitcoin was 2.5% of their assets under the manager, amounting to more than $ 740 million.