In just five months, an asset manager is known as “50 Cent” generated a $1.1 billion profit on bitcoin.

Ruffer made a $600 million investment in November and sold the last of its coins in April.

The firm warned that if the lockdowns are lifted, younger people may lose interest in crypto.

According to The Sunday Times, an asset manager is known as “50 Cent” generated a $1.1 billion profit on bitcoin in just five months.

Last November, when bitcoin was selling below $20,000, Ruffer, a London-based firm with $32 billion in client assets, invested roughly $600 million in the cryptocurrency. It cashed out part of its coins in December and early January after they doubled in value, then sold the remainder in April as their prices hit record highs of almost $60,000.

Source: Business Insider India

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