Ruffer Exited The Bitcoin Market In April With $1 Billion in Profit

[Markuri33]

One of the public companies with the largest Bitcoin portfolios cashed out its last investment in April well before the cryptomarket slump.London-based asset management firm Ruffer exited the Bitcoin market in April with a little over $1.1 billion profit for its clients.

The firm invested $600 million in November, a month after Bitcoin’s price started to rise from about $10,500. It sold some of its holdings for a $750 million profit in December and early January, but it kept going.

“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,” Hamish Baillie, an investment director at Ruffer, told The Times of London today.source

[Logitech50]

The currently Criptocurrency two leading cryptocurrencies, Bitcoin and Ethereum, enjoy a position of relative comfort today. On the Bitcoin fell almost 5% overnight to hit $35.6k, while Ethereum sank a modest 3%, landing on $2,390.