$99,537.00
2.68%$1,965.16
7.47%$2.22
4.04%$614.13
0.97%$155.46
5.78%$0.999998
0.00%$0.183951
6.55%$0.722844
6.46%$0.250436
1.30%$1,962.95
7.44%$99,408.00
2.54%$3.80
12.64%$14.92
8.27%$20.96
6.84%$0.275057
5.33%$411.54
12.82%$2,359.88
7.43%$8.81
1.44%$1.00
0.02%$0.0000135
5.42%$0.186289
5.84%$3.12
3.81%$21.58
2.03%$91.77
1.37%$4.24
7.25%$1,969.42
7.72%$294.24
3.98%$0.999843
-0.00%$4.33
0.54%$1.001
0.06%$2,094.67
7.33%$99,359.00
2.50%$0.622455
6.75%$29.28
1.82%$0.00000925
13.78%$400.00
9.56%$1.051
0.02%$5.09
7.36%$5.22
7.99%$51.73
1.22%$2.51
8.43%$0.926077
6.68%$1.00
0.00%$187.98
9.57%$0.094984
3.41%$17.34
7.46%$21.42
0.71%$4.87
5.44%$0.095632
4.07%$0.730575
2.72%$12.21
12.08%$29.93
0.37%$4.54
8.17%$0.02667413
5.76%$1.00
-0.17%$1.17
-0.02%$0.230051
4.92%$100,169.00
3.35%$4.36
5.44%$0.729601
6.36%$4.35
0.53%$2.76
6.91%$0.212509
6.46%$0.306411
14.40%$0.55187
7.82%$2.61
8.90%$0.332863
8.64%$4.24
3.06%$0.998003
-0.00%$0.944451
7.95%$0.0000185
10.02%$1.009
8.14%$94.24
3.62%$10.94
1.82%$1,629.28
10.35%$0.457354
8.54%$0.850067
17.30%$163.29
5.44%$0.01943973
0.55%$1.26
0.79%$1,959.92
7.06%$0.075236
3.45%$2,051.12
7.69%$99,275.00
2.56%$1.099
8.85%$4.02
5.60%$0.212451
6.73%$1.003
0.39%$0.589962
10.42%$1.60
16.31%$0.631713
6.08%$10.46
10.41%$0.727577
8.97%$0.098231
7.40%$2,230.37
7.46%$0.999687
-0.17%$0.01425366
27.77%$0.999697
-0.00%$613.59
0.76%$14.70
-1.54%$3,355.90
-0.97%$0.00008431
11.32%$200.15
5.53%$0.01666165
6.38%$99,869.00
3.26%$171.52
5.51%$3,360.06
-0.95%$1.00
0.02%$2.68
11.52%$0.77796
8.71%$0.218528
4.92%$0.862455
9.91%$99,706.00
3.17%$38.77
6.59%$99,123.00
3.58%$0.608514
9.32%$2,089.36
7.34%$0.730069
2.39%$0.0163282
7.93%$0.292005
7.47%$0.00000072
3.92%$3.84
1.08%$2.14
5.14%$0.115291
3.16%$19.81
11.77%$40.47
6.79%$0.997648
-0.04%$0.641448
13.48%$0.063089
17.74%$1.00
0.16%$2,057.18
7.55%$0.390964
5.75%$0.01777421
2.44%$0.568153
4.99%$1.099
0.76%$0.313185
5.59%$3.58
12.19%$1.73
8.07%$0.685015
11.36%$0.584964
16.06%$2,059.55
7.69%$0.144667
7.86%$0.00906716
7.99%$0.00562244
4.03%$0.440252
13.52%$98,444.00
2.62%$99,154.00
2.37%$110.97
0.01%$0.455747
4.47%$0.997731
-0.06%$0.999999
-0.03%$0.191798
12.36%$7.34
8.00%$99,206.00
2.54%$0.066235
0.83%$0.183677
6.21%$0.476867
14.56%$0.596498
6.64%$1.31
4.89%$16.25
6.18%$0.999999
0.00%$96,600.00
1.32%$0.00002231
5.66%$1,960.20
7.21%$1.57
4.30%$0.139024
6.10%$2,086.79
7.20%$5.96
7.34%$0.525453
7.82%$1,961.20
7.23%$0.00798927
9.77%$0.00000042
1.60%$1.005
0.47%$0.155942
2.52%$1.086
0.01%$1.64
1.59%$0.16181
2.86%$2.51
7.02%$1,959.22
7.10%$0.00582436
6.39%$2,010.99
7.40%$0.04181288
6.66%$0.085242
9.35%$3.28
9.89%$1,969.42
7.76%$0.076185
5.05%$1.43
8.99%$0.229417
4.71%$41.11
5.66%$0.00000093
38.05%$0.384203
3.10%$32.55
0.40%$0.176626
4.00%$0.999242
0.05%$0.364875
-5.76%$21.52
0.26%$0.03521379
3.20%$0.00413569
3.37%$0.01809464
2.03%$0.529599
7.48%$1.001
0.04%$0.585227
30.15%$1.40
5.01%$0.797751
3.66%$0.00006094
3.25%$0.997877
-0.26%$0.706253
7.29%$0.319339
10.47%$0.288348
9.58%$1.00
0.06%$0.70282
4.12%$1.00
0.02%$99,379.00
2.54%$1,953.29
7.53%$0.00000152
3.94%$116.42
5.94%$99,482.00
1.96%$0.00293546
3.73%$1.098
-0.07%$20.96
6.82%$0.03362194
8.93%$0.232159
5.08%$2.57
5.32%$2,080.56
7.27%$1.00
0.02%$3,352.73
-1.17%$0.20221
6.34%$21.58
2.20%$22.41
4.62%$3.31
5.73%$1.29
-27.56%$0.53931
3.35%$3.30
19.64%$2,152.79
7.24%$0.00296493
10.94%$0.263831
4.24%$2.79
-0.33%$15.89
8.20%$2,144.67
7.72%$1,994.80
2.66%$0.00343735
7.53%$0.03673135
4.81%$1,961.89
7.29%$1.55
1.84%$99,420.00
3.96%$21.57
2.06%$1.007
0.97%$0.01269844
5.69%Reading
Asset manager Ruffer Investment Company is the latest “traditional finance” firm to hop on the BitcoinBitcoin bandwagon.
The London-based company today said in an update to shareholders that it allocated 2.5% of its Multi-Strategies Fund to Bitcoin.
Ruffer Investment Company allocated in December 2.5% of its portfolio to bitcoin as insurance "against devaluation of the world's currencies. Bitcoin diversifies investments in gold and inflation-linked bonds."
Ruffer is a traditional asset manager.https://t.co/PLXlizz1Tk
— Alex Krüger (@krugermacro) December 15, 2020
According to Ruffer, Bitcoin is going to be the saving grace when the world’s major currencies struggle.
“We see this [Bitcoin investment] as a small but potent insurance policy against the continuing devaluation of the world's major currencies,” the company said in the note.
“Bitcoin diversifies the company's (much larger) investments in gold and inflation-linked bonds, and acts as a hedge to some of the monetary and market risks that we see.”
Ruffer manages around $20.3 billion in assets. Its clients are mainly individuals and families, pension funds and charities, according to their website.
Their Multi Strategies Fund has about $620 million in assets—meaning that roughly $15.5 million would be allocated to Bitcoin.
The company is the latest in a recent string of traditional investment and tech firms to hedge its bets with Bitcoin. In June, business intelligence software firm MicroStrategy kicked things off by announcing it would place large amount of its reserve assets in Bitcoin. All in all, the company now has more than half a billion dollars in Bitcoin.
The question of whether any currency—fiat or crypto—has intrinsic value has long been a source of controversy and debate. Yet, when you really test the idea, it turns out that Bitcoin, much like any other form of currency, has no intrinsic value whatsoever. In philosophical terms, intrinsic value is a property of anything which has value by virtue of its own nature. In other words, something that retains value regardless of how humans perceive it. On the other hand, things with extrinsic or in...
In October, Jack Dorsey's Square invested $50 million in Bitcoin. And just last week, MassMutual announced it had purchased $100 million worth of Bitcoin.
Wall Street and hedge funds around the globe are taking an interest in the currency as they see it as a useful alternative asset—just like gold.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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