UK investment manager sells off half BTC holdings after $750M win The economic environment for Bitcoin right now could not be better, said Duncan MacInnes. 12307 Total views News
United Kingdom-based Ruffer Investment Management has made more than $750 million from its Bitcoin investment in less than two months, but it has decreased the size of its holdings.
According to a report from British news outlet The Telegraph, Ruffer saw “immediate fireworks” after investing roughly 2.5% of its assets into Bitcoin (BTC) in November 2020, resulting in millions of dollars in gains as the price of the crypto asset rose past $20,000 and on to a new all-time high of more than $42,000 in January. Rather than HODLing it all, however, the firm reported that it had sold roughly half its BTC holdings.
Which is the better investment to hold, one that returned 17 per cent last year or one that returned 110 per cent?
That’s a no brainer, isn’t it? Of course, you’d take the one that more than doubled your money.
It’s not a theoretical question though; it’s one based on the 2020 tale of two popular real life investment trusts – Ruffer and Scottish Mortgage.
The tortoise and the hare: There is a big difference between Ruffer s all-weather investing and Scottish Mortgage s growth portfolio but both investment trusts have strong conviction
Over the past week, Ruffer’s year-end report landed in my inbox from manager Duncan MacInnes, and I had the good fortune to interview Tom Slater, joint manager, of Scottish Mortgage.
While some investment experts have embraced Bitcoin within their investment portfolios, others fear it could be heading for a sharp fall - as happened in early 2018.
Topsy-turvy: A third of us would withdraw money from our accounts and stuff it under our bedroom mattress if rates turn negative
What should investors and savers do if interest rates turned negative? New research just published by financial giant Aegon suggests that a third of us would withdraw money from our savings accounts and stuff it under our bedroom mattress. But many more – 42 per cent – would use it as an impetus to save less and invest more.
The findings come amid ongoing speculation that the Bank of England might cut interest rates to below 0.1 per cent in order to revitalise the UK economy. Last week, its monetary policy committee decided to stick for the time being with a base rate of 0.1 per cent, but a New Year cut cannot be ruled out.
Investment Week is hosting its Global Emerging Markets Briefing at a pivotal time for investors as they start to position for the recovery from the Covid-19 pandemic, although risks remain.
During this interactive briefing, we will hear from a number of global emerging market managers about their response to the extraordinary events of the past year and their outlook for the rest of the year and beyond.
The managers will identify where they are seeing the biggest opportunities and risks at the moment in emerging markets and explain the role their strategies could play in client portfolios.
Attendees will also get the chance to network with peers, quiz our speakers, as well as benefit from CPD points