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26 July 2021

Ruffer Says it Sold Bitcoin to "Eschew the Mania" | Crypto Briefing

Ruffer Says it Sold Bitcoin to "Eschew the Mania" | Crypto Briefing


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Ruffer has said that Bitcoin no longer fills the role of a diversifying asset for the firm and called the current cryptocurrency market a “speculative bubble.”.

Ruffer has described the cryptocurrency market as a “speculative bubble” while explaining its decision to sell its Bitcoin holdings in April 2021.

The investment company said that while exposure to Bitcoin was a “significant contributor” to its yearly performance, it soon found that the asset’s price performance may have been driven by speculation.

Ruffer added that when Bitcoin started showing signs of being a speculative asset, it no longer fulfilled the role of a diversifying asset that it had previously intended it to be

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