• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Cryptos

London wealth manager cashes out $1 billion profit from Bitcoin Investment

Ajibola Akamo by Ajibola Akamo
June 7, 2021
in Cryptos, Spotlight
Bitcoin rise
Share on FacebookShare on TwitterShare on Linkedin

A London based asset management firm, Ruffer LLP has profited by more than $1 billion from a $600 million Bitcoin investment the company made in November 2020. The firm invested 2.5% of its $27 billion portfolios into bitcoin, which was bought via One River Digital and Coinbase, in November, and took profits earlier this year.

In an interview with The Times, investment director of the firm, Hamish Baillie, revealed that Ruffer closed out its Bitcoin position for more than $1.1 billion in profit in April. He stated, “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.”

READ: Is Zenith Bank thriving on the strength of sound financial indices?

RelatedStories

Bitcoin

Bitcoin soars past $121K, smashing records with no end in sight

July 14, 2025
Crypto is now legit — Will Nigeria’s financial institutions adapt or burn? | Drinks & Mics ft Buchi Okoro

Crypto is now legit — Will Nigeria’s financial institutions adapt or burn? | Drinks & Mics ft Buchi Okoro

July 12, 2025

Hamish Baillie claims that Ruffer LLP became one of the first fund managers to buy BTC in what was a rare short-term investment for the company. At the time of the investment, Bitcoin’s price had cleared $15,000 and was pushing up to test the then all-time highs near $20,000 that had been set in late 2017.

Hamish Baillie attributed Bitcoin’s late 2020 parabolic price rally to the pandemic lockdown and stimulus payouts in the United States. He said the company sold its holdings partly because younger investors would not be spending as much time trading crypto now that lockdowns are ending worldwide.

READ: Bitcoin miners earnings drop by 15% to $1.45 billion in May

He stated that the firm has moved the profits it made on the BTC trade into other “protective” assets such as inflation-linked government bonds. However, Hamish Baillie is confident that major financial institutions, including Ruffer LLP and Goldman Sachs, will continue to buy Bitcoin, stating that another purchase is “certainly not off the menu.”

“If you have a multi-asset strategy then things that behave in different ways are really helpful. There’s no point being multi-asset if all your different assets move with the same dynamics,” Baillie said.

Ruffer LLP is not the only large financial institution that has been dabbling in crypto, with data from Bitcointreasuries.org showing that 36 publicly traded companies currently hold BTC on their balance sheet. Only six or 16% of publicly traded firms invested in Bitcoin are currently down on their position. These companies are Nexon, Meitu and Seetee. The top three holders include MicroStrategy, Tesla and Square who are collectively sitting on $5.2 billion worth of Bitcoin between them.

Bitcoin is currently trading $36,000, down 0.08% in the last week. The cryptocurrency market capitalization is also down 0.08% in the last 24 hours to trade $1.65 trillion.


Follow us for Breaking News and Market Intelligence.
Tags: BitcoinHamish BaillieRuffer LLP
Ajibola Akamo

Ajibola Akamo

Ajibola Akamo is an Investment Analyst, Financial Analyst, Economist and Accountant. You may contact him via his email ajibolaakamo@yahoo.com

Related Posts

Bitcoin
Cryptos

Bitcoin soars past $121K, smashing records with no end in sight

July 14, 2025
Crypto is now legit — Will Nigeria’s financial institutions adapt or burn? | Drinks & Mics ft Buchi Okoro
Digital Media

Crypto is now legit — Will Nigeria’s financial institutions adapt or burn? | Drinks & Mics ft Buchi Okoro

July 12, 2025
Bitcoin
Cryptos

Bitcoin blasts past $118K, short sellers lose $1.25 billion   

July 11, 2025
Bitcoin
Cryptos

Bitcoin surges to record $112K amid institutional demand 

July 10, 2025
Bitcoin
Cryptos

Bitcoin shows buyers’ exhaustion, struggles under $108K

June 27, 2025
Bitcoin
Cryptos

Hawkish Fed, Israel–Iran conflict cage Bitcoin

June 19, 2025
Next Post

Ecobank Transnational Incorporated announces proposed launch of $300million Tier 2 sustainability notes.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Dangote submits paperwork to begin construction of deep seaport in Ogun state 
  • FRSC launches redesigned website to improve service delivery nationwide 
  • MultiChoice and FCCPC seek Appeal Court’s intervention over ‘GOTV, DSTV Price Hike’ in Nigeria 

Follow us on social media:

Recent News

Aliko Dangote makes TIME100 world’s most influential philanthropists list 2025 

Dangote submits paperwork to begin construction of deep seaport in Ogun state 

July 15, 2025
FRSC says 5,081 people died in road crashes in 2023 nationwide

FRSC launches redesigned website to improve service delivery nationwide 

July 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics