British firm Ruffer Investment Company has put 2.5% of its investment fund in Bitcoin, CoinDesk has reported. According to the company:
"We see this as a small but potent insurance policy against the continuing devaluation of the world's major currencies. 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 allocated about 2.5% of its multi-strategies fund or about $15M to BTC in November. The fund manages approximately $620M.
Ruffer has also reported it has reduced its investment in gold to be able to include Bitcoin in its portfolio. According to the company, it has basically followed 2 requirements when making the decision: not to lose money over the next 12 months and to increase the value of the clients' assets in the long term, exceeding the indicators of the deposit accounts.
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