The wealthy are jumping into bitcoin as the stigma around crypto fades
Christian Armbruester wishes he’d bought more. The founder of Blu Family Office, a London-based investment firm for wealthy clients, dabbled in cryptocurrencies a few years ago. But the one-time investment banker, whose family made a fortune in metals and manufacturing, believes cryptocurrencies have earned a place in a diversified portfolio. With bitcoin surging more than 270% since its 12-month low in March, he’s ratcheting up his investments in the space and eyeing big gains.
“We’re now looking for trading opportunities in a very exciting field,” said Armbruester, who manages about US$670-million for Blu Family Office, including his personal wealth.