UK-based Ruffer Investment Management is one of the firms that made huge profits while investing in Bitcoin, marking $1.1 billion profit in just five months of investment in BTC. After making some profits in the month of December, Ruffer sold all of its holdings by the end of April when Bitcoin was looked at like a risky asset.
Duncan MacInnes, the Director of the Ruffer Investment Management firm said that:
As seen in the bitcoin price chart, it is still changing hands at the price which is almost half of the all-time high price of Bitcoin.
When Bitcoin reached its top in the first half of the year, many institutional investors booked their profits and sold their BTC holdings, and directed some of their profits in Ethereum.
Ruffer Investment Management, the firm with a capitalization of 580 million Euros is one of those investors that booked profits from Bitcoin.
In addition to this, Duncan MacInnes noted that regardless of all the hype during the dot com bubble, the internet did change the world for good and said:
Criticizing the balanced portfolios and talking about the rise in inflation, Duncan said:
Revealing the short-term capabilities of BTC, he said: