Tuesday, October 26

Big profit sale from company that invested $ 700 million in bitcoin

Ruffer Investment, which has nearly $ 30 billion in assets under its management, sold with a 100 percent profit rate after Bitcoin purchases in November and disposed of part of its investment.

Stating that they did not regret their bitcoin investments and made 90 percent profit, the company exceeded this profit margin and made its first sales.

Bitcoin Profit News in the British media

According to the news in the British media; When the value of Bitcoins increased by more than 100 percent, the company decided to sell the $ 650 million part. Duncan MacInness, the investment manager of the firm, stated that they were happy with the profit they made in a short time and used the following statements:

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“We were surprised that our investments were successfully doubling in such a short time. Bitcoin, which we bought with 2.5 percent of our assets in November, has more than doubled. We sold a total profit of $ 650 million and we have $ 700 million of Bitcoin left.

So Ruffer Investment has now put the price it paid for Bitcoin back into its pocket and is keeping it in its “safe” as much on top of it. Stating that they have been following the movements of Bitcoin for years, MacInness also stated that the rise of 2017 raised serious doubts about Bitcoin.

“We are just at the beginning of the path of ascension”

Investment manager MacInness said he believes this rise is much different from 2017, due to factors such as inflation accelerated by the coronavirus pandemic, negative interest and bond yields, uncertainties in the world economy and even digitalization:

“Everything goes digital. Our life is much more digital than we did a year ago. Currently, many regulated companies are also buying Bitcoin. People are desperate about other safe-haven assets and Bitcoin has become like digital gold. We are just at the beginning of our long ascend on the road to institutionalization in Bitcoin “

Ruffer Investment sold with a 100 percent profit rate after purchasing Bitcoin in November.

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