Ruffer Investment has earned more than $1 billion on investments in Bitcoin.
Meanwhile, former US President Trump again attacked the first cryptocurrency.
Asset management company Ruffer Investment made a profit of over $1.1 billion in five months of investing in Bitcoin. In November 2020, Ruffer invested approximately $600 million in the first cryptocurrency.
"When the price doubled, in December and early January, we recorded a portion of the profit for customers. We actively managed the position, and by the time of the sale of the last tranche in April, our profit was just over $1.1 billion, " said Ruffer investment director Hamish Bailey.
The British firm explained the sale of the asset by the fact that people have already received payments from the US authorities and in the conditions of lifting the restrictions associated with the pandemic, they will not spend much time on trading.
Investors should keep Bitcoin in their portfolios, even if they believe that gold will show strong results in the foreseeable future, said Troy Gayeski, investment director and chief portfolio manager of the SkyBridge Capital hedge fund. He expects that both bitcoin and gold will continue to grow even after the reduction of asset purchases by the Federal Reserve.
Meanwhile, former US President Donald Trump said in an interview with Fox Business that Bitcoin "looks like a scam."
Trump noted that when he headed the US government-the first cryptocurrency was trading around $6000 or even below this level. Recently, BTC soared to a new historical high, which can not but cause concern to the US authorities.
According to the former US president, the White House should focus on ensuring that the dollar remains the leading financial instrument in the world.
In 2019, Trump first spoke out about Bitcoin and Libra (now Diem). In his opinion, their value is extremely volatile and generally unsupported. Later, the former US President's national security adviser John Bolton wrote in his memoirs that Trump in May 2018 declared his dislike for BTC.