Ruffer scores $750 Million profit from Bitcoin

[Imran232]

Assest manager Ruffer Investment company has sold a portion of its investment while keeping a risk-free long position on the cryptocurrency.

Ruffer Investment Company has sold $750 million worth of cryptocurrency after the value of its initial investment skyrocketed over the past few months, according to The Telegraph.

A biggest congratulations from our bitcoin community to ruffer for made this amazing profit.

The London-based firm manages £20.3 billion ($27.3 billion) in assets and allocated 2.5% of its Multi Strategies Fund to Bitcoin in November 2020.

I hope everyone share your thoughts on this news....

For more information visit here:

[jackg]

I mean it's good they're still holding some but they might be trying to cause a dip they can profit from by selling now (especially if other "funds" look to try to do the same thing and cash out their profits).

[Wenbing]

This is a very great news and a big congratulations. Well, here is what I can deduce from this smart investment decision.

We should sell when we feel that the profit is good enough, and it's covers the cost of Time Value of Money.

That's one of the smartest ways to minimize risk in any investment.

[passwordnow]

Congratulations to the firm. If most of the investment firms like them are going to do the same and if the market suddenly dumps, we've got an idea that each of them are taking profits from the current situation which is very usual to happen because they manage assets and needed to make profits for their investors. Honestly, it is the first time to hear that name of an asset company and if they've made $750M in bitcoin, this will also attract other firms who have been eyeing for bitcoin as part of their assets.

[maybukaspa]

Congratulations. Remember last November 2020, when its company invested around 2.5% of its assets to bitcoin. Can't believe in a short period of time their profit becomes $750 million. It's well done just how they can manage to do not in 2 months.

[el kaka22]

I am not entirely sure if selling all this crypto would benefit them in the long run, but if that is what they decided then it is their loss. Crypto is not something that would go down in the long term, I never believed it would go down in the long term, that is why I am always optimistic even when it falls because crypto is something we will definitely profit a lot in the long run.

However one thing is a bit confusing for me, which is why would these companies buy and sell if it is going to profit in the future? If they plan on selling at the "top" and getting back in later, that is trading and trading with hundreds of millions of dollars, nearly a billion dollars, is not really smart and should probably stay away as much as they can. In any case, in 10 years if they didn't buy back their sold portion, they are going to regret selling their bitcoins.

[so98nn]

I mean it's good they're still holding some but they might be trying to cause a dip they can profit from by selling now (especially if other "funds" look to try to do the same thing and cash out their profits).

The good thing is with little hype initially every investor got that “catalyst” to put their money into bitcoin. Not just investors but big bulls like musk too. This was the start point where bitcoin boosted like anything. 

Honestly we need investors like Ruffer, MtGox, Elon Musk, and more to have that resistance level of bitcoin. The day these people and institutions will swipe out their money from crypto we will see terrific down turn for bitcoin. So let’s just wonder it would not happen ever.

So yeah, for now go ruffer go!

[Mauser]

A biggest congratulations from our bitcoin community to ruffer for made this amazing profit.

The London-based firm manages £20.3 billion ($27.3 billion) in assets and allocated 2.5% of its Multi Strategies Fund to Bitcoin in November 2020.

I hope everyone share your thoughts on this news....

For more information visit here:

Yeah well done, congratualtions. This is a really nice profit for an investment manager, especially when only investing 2.5% of their assets.

But I am not sure if it is the best timing to sell it all right now. There might be more people buying into Bitcoins right now. The price is so close to 50,000 USD.

[laredo7mm]

A biggest congratulations from our bitcoin community to ruffer for made this amazing profit.

The London-based firm manages £20.3 billion ($27.3 billion) in assets and allocated 2.5% of its Multi Strategies Fund to Bitcoin in November 2020.

I hope everyone share your thoughts on this news....

For more information visit here:

Yeah well done, congratualtions. This is a really nice profit for an investment manager, especially when only investing 2.5% of their assets.

But I am not sure if it is the best timing to sell it all right now. There might be more people buying into Bitcoins right now. The price is so close to 50,000 USD.

I am also thinking about that. I think we are very early in our current bull run. The Crypto market could go much higher this time and 4X to 5X is very achievable from our current position. They are investing only 2.5% so it was worth waiting for maximum profit. Maybe they are trying to book some profits are buy in a dip from the market which is also a smart move.

[Daltonik]

It seems that Ruffer sold all its bitcoins that it purchased in November last year, eventually receiving more than 100% profit from investing in the cryptocurrency and earned over $1.1 billion by closing its last positions in bitcoin in April.  https://www.thetimes.co.uk/article/ruffer-makes-a-quick-1-billion-from-bitcoin-cn0lsjsvj

[Kittygalore]

That explains why the prices are down really low today when I checked on it, seems to me that they did a really good job selling a portion while still holding for the long-term. It seems that Ruffer is immune to the madness of crypto community when they sell their portion, seems to be reserved only for musk I guess.

[cheezcarls]

I think they are in a right position to buy massive amounts of Bitcoin that time before the big bull run happened. Congratulations to them by the way and I am happy for them. If I had hold on with my BTC early December, I could have become happier back then, I was so impatient but it is what it is. Life goes on.

[FanEagle]

Well, they took out their profit and probably kept a good chunk in the crypto and that is what everyone should be aiming to do, isn't that what makes us the most profit. However it wasn't really a great decision to sell right now, it would have been better if they sold when we were over 60k+ and that would have been nearly 2x more profit.

I understand that it is not that easy to make that type of profit very easily, but it is also not that difficult to make that kind of sale when the price is low, just ... wait? I mean at the end of the day we are talking about a huge company here and they are not in a rush, they could simply just wait and make more profit and they do not need the money right now, they can wait a whole year or even few years to make even more profit.

In any case, they made a profit and kudos to them, we all want a profit so I won't say anything to this.

[Kakmakr]

I do not know why we should even congratulate them, because investment firms like this are harmful to Bitcoin. They come in guns loaded with Fiat and they buy huge amounts of bitcoins and every speculator out there goes crazy, because it bumps up the Bitcoin price.

Then a few months after that, they pull their investment in Crypto currencies and you never hear from them again. The people that must get all our attention ... must surely be the large retailers and eCommerce businesses that accepts Bitcoin as a payment method. (These are the companies that will have a long-term partnership with Crypto currencies and they are the people that should get our support)

                                                           Bitcoin is not an investment... it is a currency!

[Lucius]

I do not know why we should even congratulate them, because investment firms like this are harmful to Bitcoin. They come in guns loaded with Fiat and they buy huge amounts of bitcoins and every speculator out there goes crazy, because it bumps up the Bitcoin price.

When news began to appear about companies investing in BTC, I wondered how long it would take them to start profiting from their investment - and that the price of BTC would depend on when they start emptying their bags. This is of course good for them, but bad for the overall image that is being sent to the public that BTC is just a profit-making tool. The company in question has obviously entered the game to profit, the market is open, and we have nothing to complain about - at least they didn't try to sell us a story about how they sell their BTC because they are worried about the devastating effect that mining has on the environment.

This is a reality to be accepted and this is just the first round in a series of many yet to follow - they will milk BTC to the last drop, there is no doubt at all. Little people have the only power in their numbers, and if each of us bought at least $100 worth of BTC each month, we might leave them less room to maneuver.

[Similificator]

Well at least there aren't that much people trash talking ruffer just because of selling a couple hundred million dollar worth of crypto currencies. Seems like the mindset of the community in this industry is slowly improving. Profit is profit and good investors invest for profit, not for fantasies. Would've been nice though if ruffer decided to wait a bit more when the market price rockets again or sold earlier. But still, as long as there is profit, then good. Congratulations.

[sana54210]

When news began to appear about companies investing in BTC, I wondered how long it would take them to start profiting from their investment - and that the price of BTC would depend on when they start emptying their bags. This is of course good for them, but bad for the overall image that is being sent to the public that BTC is just a profit-making tool. The company in question has obviously entered the game to profit, the market is open, and we have nothing to complain about - at least they didn't try to sell us a story about how they sell their BTC because they are worried about the devastating effect that mining has on the environment.

This is a reality to be accepted and this is just the first round in a series of many yet to follow - they will milk BTC to the last drop, there is no doubt at all. Little people have the only power in their numbers, and if each of us bought at least $100 worth of BTC each month, we might leave them less room to maneuver.

I do understand devastating effects of bitcoin mining, what I do not understand is someone who was sooooo in love with bitcoin just a month ago that they start to accept bitcoin for their company and even spend 1.5 billion dollars on bitcoin, then a month later they care about trees, dude was electric car company owner and even has a solar panel company as well, which is why I do not think that it makes no sense to me at all why he would realize it now, that should be the number one thing he checked.

In any case Ruffer did something fair and I am fine with that, dudes just wanted something that would be profitable and they found it, invested, and then made some money on it, that makes sense and I am fine with that. At the end of the day we all do the same but with a much smaller capital, isn't the whole point for many people just to make profit?

[Fortify]

Assest manager Ruffer Investment company has sold a portion of its investment while keeping a risk-free long position on the cryptocurrency.

Ruffer Investment Company has sold $750 million worth of cryptocurrency after the value of its initial investment skyrocketed over the past few months, according to The Telegraph.

A biggest congratulations from our bitcoin community to ruffer for made this amazing profit.

The London-based firm manages £20.3 billion ($27.3 billion) in assets and allocated 2.5% of its Multi Strategies Fund to Bitcoin in November 2020.

I hope everyone share your thoughts on this news....

For more information visit here:

It's worth remembering that each time you see a new story like this, it is all about profit-taking for these investment funds - the most likely people to have lost money will be the average investor. As they were buying what the big guys were offloading. You can bet a large part of the evaporation between the peak at $65k and the current $30-$35k value was the result of many funds/companies running while they still had a profit left to take. If you allow them they will keep repeating the cycle because they are the masters of pump'n'dump - as is witnessed by them still claiming to be long on cryptocurrency. It might not be bitcoin next time but a lot of buyers are getting taken for a ride and they hold on when they wise money is fleeing.

[Kong Hey Pakboy]

I mean it's good they're still holding some but they might be trying to cause a dip they can profit from by selling now (especially if other "funds" look to try to do the same thing and cash out their profits).

They will probably pump it up anyways, we know how these companies already work and I don't really mind them doing that because I am a long-term hodler and I can control when and where am I going to sell my bitcoins.

[int03h]

Posted in February, at that time the cryptocurrency market was growing rapidly. By May, the market spiked again and almost broke the all-time high that February had produced. It can be said that the above company has a good strategy, very good profit and quick exit. If they were more greedy and waited until May and closed on the first days of the month, the profits could be many times bigger.
We don't know how far the crypto market will grow but being profitable and taking profits is essential for a professional hedge fund.