Ruffer Investment: BTC Is Early In Its Safe Haven Cycle

Ruffer Investment has allocated 2.5% of its portfolio into Bitcoin; @ $750 million:

After $750M Bitcoin Allocation, Ruffer Investment Says BTC is Early in Its Safe Haven Cycle

In a more recent note to investors, cited by Portfolio Adviser, the firm outlined its “history of using unconventional protections” in its portfolio. The company also said that its BTC purchase is a “small allocation to an idiosyncratic asset class which we think brings something significantly different to the portfolio.”

“Due to zero interest rates, the investment world is desperate for new safe-havens and uncorrelated assets. We think we are relatively early to this, at the foothills of a long trend of institutional adoption and financialization of bitcoin.”

Ruffer also addressed the recent warnings issued by the UK’s regulator, in which the FCA highlighted the dangers of crypto scams and projects offering “too-good-to-be-true” investment opportunities. However, the asset manager believes that investors should view this “bad reputation” as a “risk premium.”

“As we move through the process of normalization, regulation, and institutionalization, the compression of this premium can have a dramatic effect on the price.”

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Master Asked on January 19, 2021 in Bitcoin.
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