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Asset manager Ruffer reduces exposure to gold in favor of Bitcoin

John Williams

Dec 16, 2020 — 1 min read

This article is for informational purposes only and does not constitute investment advice. Always do your own research (DYOR) before making any financial decisions.

Asset management company Ruffer has revealed that it bought some Bitcoin in November after reducing its exposure to gold. In a recent announcement by the company, they noted that the move was a defensive one to hedge against the devaluation of currencies around the world.

The exposure to Bitcoin is currently equivalent to around 2.5% of the portfolio. We see this as a small but potent insurance policy against the continuing devaluation of the world’s major currencies.

Following the impact of COVID-19 and rising distrust in fiat assets, many institutional investors are turning to digital assets. Ruffer explained that Bitcoin is a viable option when it comes to diversifying its current portfolio which comprises mainly of gold and inflation-linked bonds.

Ruffer is not the first institutional investor to purchase bitcoin in recent times. In the past few months, several investment giants have been investing millions of dollars in the cryptocurrency. This includes MassMutual, MicroStrategy, and Square. Meanwhile, gold has been decoupled from Bitcoin in recent months.

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