Ruffer Investments Chose Coinbase To Execute $745M BTC Purchase

Ruffer Investments, another multi-million dollar company decided to go with Coinbase when it came to their $745 million BTC purchase as we can see more in today’s Coinbase news.

Initially, Ruffer Investments wanted to buy BTC in November and chose One River Digital which at that time, turned to Coinbase, as representative Jonathan Atkins confirmed. In a recent portfolio update, Ruffer referred to as the biggest custodian of digital assets mainly because access to BTC is controlled by multi-layer security protocols. A second source also confirmed that Coinbase was the sole custodian in the portfolio update but Coinbase custody announced that it was storing $20 million in customer assets.

The revelation shed more light on how bigger investors are entering the BTC market which is mainly through trusted partners. Bigger bets in recent weeks from MassMutual and Guggenheim are seen as the main force behind the recent rally for BTC. Ruffer invested about 2.5% to its $27 billion portfolios into BTC back in November while One River digital proclaimed that it had already brokered $600 million in BTC and ETH for their institutional clients.

Coinbase confirmed that it was conducting a trade execution and crypto custody for One River Digital but that was about it. Ruffer also owns a stake in One River Digital just as Alan Howard does as well.
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The ruffer revelation shows how far San Francisco’s Coinbase is entering into eh world of fund management. It also revealed that it conducted the BTC purchase for Microstrategy. Coinbase is now preparing for a Wall Street debut as BTC continues to rally past $20,000.Ruffer said:

 “The current macroeconomic environment is set up perfectly for an asset that blends the benefits of technology and gold. Negative interest rates, extreme monetary policy, ballooning public debt, dissatisfaction with governments – all provide powerful tailwinds for bitcoin at a time when conventional safe-haven assets, particularly government bonds, are perilously expensive.”

Ruffer said BTC grew to meet this moment and continued to say that the institutions are coming more and more to the benchmark cryptocurrency:

 “Since 2017, billions of dollars have been invested in the infrastructure needed to support this wave of bitcoin adoption; many of the impediments to institutional investors have been dismantled. [Bitcoin] seems set to move from being loved by the anti-establishment to being embraced by the dominant interests of the establishment.”