The Ruffer Asset Management Company assures its investors, which is still confident in their "non-traditional" investments in Bitcoin. The firm that manages assets worth more than 20.3 billion dollars and has offices in London and Paris, announced the allocation of an investment in BTC 2.5 percent of its separate fund. It is about 550 million pounds of sterling in BTC or about 746 million dollars in today's exchange rate. And on this popularity of the first cryptocurrency does not end.
Let's start with the explanation: Bitcoin is indeed considered to be an unconventional investment for many popular companies. The cryptocurrency began working in 2009, that is, the asset is new and young. In this regard, most people on the planet still simply did not have time to deal with the principle of blockchain work, the rules for conducting transactions and security funds of coins, which means the product is at an early stage of its existence.
However, some advantages of cryptocurrency are apparent even to beginners. First of all, the Bitcoin network is decentralized, that is, its participants are equal, and block some kind of dismissible payment here simply will not work. In addition, the maximum number of bitcoins is limited to 21 million, which means to get more coins will not work off. It is the last fact that makes investors spend hundreds of millions of dollars to buy coins now.
Ruffer also has access to the main cryptocurrency through Microstrategy and Galaxy Digital. Recall, the Microstrategy business analyst company currently holds BTC in the reserve for about $ 2.5 billion, and Galaxy Digital invested about $ 600 million in a crypt. More details with the largest investors of the first cryptocurrency in the face of famous companies will familiarize this material.
Who buys Bitcoin
Now that the price of Bitcoin is confidently growing, the ruffer management has become more actively supporting its strategy. Here is a quotation of his representatives in which employees share the vision of the situation. A replica brings Decrypt.
In other words, the Ruffer is confident that Bitcoin will become an excellent rate in case of continuing the economic crisis. In addition, the main cryptocurrency with a large share of probability will show one of the highest levels of profitability as the world will "wake up" after the damage caused by the coronavirus pandemic. And this is a kind of win-win version.
Last week, the Chairman of the Board Ruffer Jonathan Raffer said that Bitcoin as an asset "at first glance is meaningless", but at the same time "has an absolute meaning from the point of view of our world vision." He added that Bitcoin "becomes a challenger on the status of gold as the only currency."
The point of view of Raffer indirectly confirms the recent statement of the economist and the former Prime Minister of Canada Stephen Harper. This week, he said that Bitcoin, gold or other popular unconventional asset can really claim the role of the dollar's replacement, but the probability of such an extremely small. For this, the United States should lose a significant part of the authority in the international arena, which will also affect the dollar as world currency. However, this is possible perhaps in the case of a financial catastrophe, Harper said.
Last night, it also became aware of the submission of documents to the US Securities and Exchange Commission by BlackRock. This assets management giant, which manages trillions of dollars, reports The Block. And now the company is preliminarily prepared for the entrance to the Bitcoin-Derivatives market - and this is a serious victory for such a young niche.
We believe that this year began for Bitcoin perfectly. The cryptocurrency enters the vision of all new giants - and this is not to mention working with PayPal coin, the initiative of which surprised the fans cryptocurrency at the end of last year.
Apparently, the list of those who want to interact with BTC will only increase. And since the maximum number of coins is limited, high attention to cryptocurrency will clearly positively affect its course.
What do you think about this? Share your opinion in our cryptocat of millionaires. Also be sure to look into Yandex Zen, where materials that are not on the site appear.
Subscribe to our channel in Telegraph. Tuzumen not far off!