Share this article
Ruffer Turns Bitcoin Investment Into $750M Profit in Under 2 Months
"We did not expect immediate fireworks,” said a Ruffer executive.
Updated May 9, 2023, 3:15 a.m. Published Feb 3, 2021, 2:58 p.m.
U.K.-based Ruffer Investment Management has managed to quickly turn its recent bitcoin investment into a $750 million profit.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Having bought in November, Ruffer's investment managers took profits in December and January as the cryptocurrency more than doubled to around $40,000, according to a Telegraph Money report Tuesday.
“We’ve been surprised by how well it has done and how quickly. We did not expect immediate fireworks,” Duncan MacInnes, co-manager of Ruffer Investment, told the newspaper.
As CoinDesk reported, the investment firm invested 2.5% of its $27 billion portfolio into bitcoin back in November, making its purchase via One River Digital and Coinbase.
MacInnes said the 2.5% allocation was made across all Ruffer's funds, costing around $600 million.
Read more: Ruffer Investment Confirms Massive Bitcoin Buy of $744M
As prices soared, the firm opted to take out its original investment and make $650 million in profit. "We still have around $700 million left in and are currently up by $750 million overall,” said MacInnes.
The investor said Ruffer has been following bitcoin for a few years and was previously skeptical of the cryptocurrency. That's all changed now, however, MacInnes said: "The economic environment for bitcoin right now could not be better."
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Malaysia’s Royal Unveils Ringgit-Backed Stablecoin for APAC Payments
The new fiat-pegged token arrives as Asia leads global stablecoin use, with over 50% of institutions in the region already on board.
What to know:
- Malaysia's king's eldest son launched a ringgit-backed stablecoin, RMJDT, aimed at enhancing cross-border trade and attracting foreign investment in the Asia-Pacific region.
- The stablecoin, with an initial supply of 500 million tokens, is backed by ringgit cash deposits and short-term local government bonds.
- The Asia-Pacific region is the fastest-growing market for stablecoins, with 56% of institutions already using them for payments and treasury purposes.
Top Stories
