Ruffer Investment Utilise Coinbase To Acquire 5M Bitcoin
Ruffer Investment utilise Coinbase to acquire $ 745M in Bitcoin. In a latest portfolio update, Ruffer alluded to the involvement of the “world’s largest custodian of digital assets” without naming names. “Access to the bitcoin is controlled by multi-layer security protocols,” Ruffer wrote of its cold-storage setup.
The revelation sheds light on how large investors are making its foray into the bitcoin market: namely through trusted partners. Big bets in recent weeks by everyone from MassMutual to Guggenheim are seen as the driving force behind bitcoin’s current price rally.
Ruffer invested 2.5% of its $ 27 billion portfolio into bitcoin in November. The following day, One River Digital, a crypto-focused offshoot of volatility hedge fund One River Asset Management, came out of stealth, proclaiming it had already brokered $ 600 million in bitcoin and ether for its institutional clients.
Coinbase confirmed on Wednesday it was conducting trade execution and crypto custody for One River Digital.
[image: Clifford Photograpghy]
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