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Asset manager Ruffer Investment Company is the latest “traditional finance” firm to hop on the Bitcoin bandwagon. The London-based company today said in an update to shareholders that it allocated 2.5% of its Multi-Strategies Fund to Bitcoin. According to Ruffer, Bitcoin is going to be the saving grace when the world’s major currencies struggle.
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“We see this [Bitcoin investment] as a small but potent insurance policy against the continuing devaluation of the world's major currencies,” the company said in the note. “Bitcoin diversifies the company's (much larger) investments in gold and inflation-linked bonds, and acts as a hedge to some of the monetary and market risks that we see.”
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