An funding firm has constructed up a £550 million wager on bitcoin as an insurance coverage coverage in opposition to turmoil within the wider monetary markets.
The agency Ruffer runs the Ruffer funding belief, which is listed on the London Inventory Alternate and invests in a variety of property. It has allotted 2.7 per cent of the fund to the digital forex that has surged to a price of above $23,000 (£17,270) this month, far exceeding the earlier file excessive it reached three years in the past. This comes on the again of a weakening greenback, and after quite a lot of huge funds corporations stated that they’d settle for bitcoin. Nonetheless, cryptocurrency stays extraordinarily risky and specialists are sometimes very sceptical about utilizing it as an funding.
Fund managers not often