Three reasons why bitcoin could be the only currency

Jonathan Ruffer, Chairman of the British investment company Ruffer Investment Company, expressed the opinion that Bitcoin(BTC) is becoming a contender for gold's status as the only sub-currency that is essential as fiat currencies are doomed.

«We have done a lot of work assessingthe likelihood that Bitcoin is the wrong choice. We've been watching it for a long time and we think it's a unique asset evolving as a store of value, combining some of the benefits of technology and gold»Ruffer said in his latest investment review.

The company is known to have invested £ 550 million (or $ 748 million) in bitcoin, which is approximately 2.5% of its assets.

Ruffer described how he sees the current investment environment:

1. We see inflation and more inflation ahead.
2. World currencies are at risk of being threatened by the issuance of more money.
3. Growing companies are too big, toodominant and are unlikely to be able to quickly increase their profits to compensate for what happens when long-term profitability rises. Their ratings will drop as investors are unlikely to pay such high ratios for future earnings.

Another important aspect for the company was when to invest in BTC.

«We were of the view thatNovember last year was the right time, and if we had delayed the purchase longer, subsequent price changes would have deterred us from purchasing. That's why we decided», - said the top manager.

True, according to him, the entry price at $ 34,000 also looks acceptable.

«We are committed to ensuring customer safety and are pleased that Bitcoin also contributes to this matter»- concluded Ruffer.

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