Read? Ruffer Turned Bitcoin Investment Into a $1.1B Profit in 5 Months: Report
CW8888 : The hopeful millionaires in the Future are providing their dream money to real millionaires now!
U.K.-based Ruffer Investment Management made a $1.1 billion profit in five months from investing in bitcoin, according to a published report
A Ruffer investment director said the firm sold its bitcoin because younger people would not be spending so much time trading now that the lockdowns are ending, according to The Sunday Times report.
“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,” Hamish Baillie, the investment director, said.
The firm invested 2.5% of its $27 billion portfolios into bitcoin in November and took profits earlier this year as the cryptocurrency more than doubled to around $40,000.
In February, Duncan MacInnes, the co-manager of Ruffer Investment said the firm had around $700 million left in bitcoin as the company reported a profit of $750 million overall.
Ruffer made its bitcoin purchase via One River Digital and Coinbase.
Posts
Uncle8888,
ReplyDeleteRuffer seems to be one of the rare up & coming hedge funds operating from London. They got the X-Factor lol.
Good timing for their BTC sales as price as dropped -36% in a month, and -7% over the weekend.
Btw, Ruffer is the infamous "50-cent" trader who buys tons of VIX call options when they get as cheap as 50 cents.
They made big bucks when US markets became volatile in 2018 and again during Covid 2020.
Not this original 50 Cent lol. Who has also made big bucks too.
CW,
ReplyDeleteBill Ackman made $2.6 billion in one month hedging with optionsr.
Its never about the sword; its always about WHO wields the sword ;)
If I snake-oil selling options courses, I would milk the Bill Ackman's trade to death, "See? Options much better than equities! Click on the link below to learn more..."
That's where most bei kambings confuse vehicles with craftsmanship.
A SKILLED speculator is agnostic with flavour of the month vehicles; they just focus on buy low, sell high (or the reversed with shorting).
Your example and mine just illustrate some people are much much better traders than you and I.
LOL!
Well followed Masters might be milking from their faithful followers. No?
DeleteIf not how these "Masters" reach their own financial goals?
DeleteIf they can hit their goals investing/trading for themselves, why would they want to burn their evenings and weekends?