As the investment director of a large British asset management company Ruffer, Duncan McInnes, said, the firm sold 40% of the bitcoins purchased in November, gaining $ 650 million for them.
In November 2020, the company invested about $ 600 million in the first cryptocurrency through one of its funds. Now the company’s management has decided to fix some of the profits. At the same time, BTC remains in the assets of Ruffer for about $ 700 million.
“The investment of 2.5% in bitcoin was of the total assets under our management, that is, approximately $ 600 million. Since then, the bitcoin rate has more than doubled, so we decided to take a profit of $ 650 million,” said Duncan McInnes ( Dunkan MacInnes).
According to investment director Ruffer, the company has been following the first cryptocurrency for several years now. Previously, the attitude of the company’s management to bitcoin was skeptical, but recently, views have changed:
“The state of the economy has never been so positive for Bitcoin.”
Earlier, the company’s analysts expressed confidence that bitcoin is on the verge of institutional adoption and large financial institutions will start investing in the first cryptocurrency in the coming years.
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