UK investment manager shifts focus from gold to Bitcoin in a „defensive move

Reading time:

The institutional pilgrimage to BTC continues.

A UK-based investment manager has added Bitcoin (BTC) to its portfolio, emphasizing the current institutional approach to digital assets.

Ruffer Investment Company Limited, an investment manager with shares listed on the London Stock Exchange, has revealed its new Bitcoin strategy.

In a performance update and manager commentary released Tuesday, Ruffer said he has added Crypto Wealth to his Multi-Strategy Fund, primarily as a defensive move against the „continued devaluation“ of trust money. The fund now has approximately 2.5 percent of its assets in Bitcoin.

Bitcoin will eat up the gold market share, according to analysts at JPMorgan

The allocation was made in November after Ruffer reduced his gold exposure in favor of BTC.

The firm said:

„We see this as a small but powerful insurance policy against the continued 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 for some of the monetary and market risks we see.

MassMutual’s purchase of Bitcoin proves that the institutional demand for cryptosystems is increasing, says JPMorgan

Founded in 1994, Ruffer has £20.3 billion ($27.2 billion) in assets under management as of November 30. The firm has approximately 6,600 clients worldwide, including individuals, families, pension funds and charities.

Ruffer’s move echoes a recent call from JPMorgan that Bitcoin is quietly eating away at the gold market share. In a note to clients released last week, quantitative strategies led by Nikolaos Panigirtzoglou said the adoption of Bitcoin could generate „structural headwinds“ for gold.

MetaMask wants institutions to get into the DeFi space with its new business version

The strategists wrote:

„If this medium- and long-term thesis proves to be correct, the price of gold would suffer a structural headwind in the coming years.

This story is still unfolding.

Arbistar class action lawyer requests that CEO be arrested before trial

„It is unacceptable that in the face of a scam like this there has not been a strong reaction on the part of the judicial authorities“.

A lawyer representing users in one of four class action lawsuits against Spanish-based crypto-bot developer Arbistar is asking authorities to take „strong“ action against its CEO.

According to a report in the Spanish news media elDiario.es, lawyer Carlos Aránguez said the authorities‘ response to Arbistar CEO Santi Fuentes, who allegedly defrauded millions of users, does not match the severity of his crime. Fuentes has been on probation since his arrest in October for his role in the alleged $1 billion Ponzi scheme that Arbistar ran this year. He was charged with fraud and money laundering.