Approximately five months after allocating 2.5% of its portfolio in BTC, Ruffer Investment has sold its entire position at a profit of over $1 billion. The firm cited the declining interest from younger generations as the primary reason for the sale.
“When the price doubled, we took some profits for our clients in December and early January. We actively managed the position, and by the time we sold the last tranche in April, the total profit was slightly more than $1.1 billion.” – said Hamish Baillie – Ruffer’s investment director.