Bitcoin is an emerging store of value, challenger to gold: the president of Ruffer Investment

The President of Ruffer Investment publicly announces his new Bitcoin investment strategy. He detailed today the reason for the company’s 2.5% allocation of its multi-strategy fund to Bitcoin.

According to Jonathan Ruffer, Bitcoin is a new store of value. He based his claim on the company’s research that assessed “the danger of Bitcoin being a fake.”

Bitcoin and gold

A growing number of people in crypto and the mainstream economy often compare Bitcoin and gold. Even Bitcoin’s wealth preservation narrative seems to have taken precedence as well. Especially when companies like Square, MicroStrategy, Galaxy Digital see Bitcoin as a store of value and a hedge against inflation risk.

Moreover, even President Ruffer agreed with his firm’s research that Bitcoin was “becoming a challenger to gold.” It was a “supra-currency”. He thought the company could own Bitcoin. Which would help them in the event of a devaluation of the fiat.

Additionally, Jonathan Ruffer believes his company has made a timely decision to invest in Bitcoin.

At press time, Bitcoin was trading at $ 33,399. Her rather volatile journey to that number, Ruffer’s decision to enter the crypto market, when she did, was favorable. However, the president was quick to add that the company takes customer safety seriously. He was now convinced that “bitcoin has a small role to play in the pudding”.

For Alex Krüger, represents a purchase of 15 million dollars. It was one of Bitcoin’s biggest buys, at least once, especially for any hedge fund. This year, Three Arrows Capital became the latest hedge fund to earn a billion dollars buying Bitcoin traded stocks.

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