Ruffer Investment Used Coinbase to Execute $745M Bitcoin Buy

When Ruffer Investment wanted bitcoin in November it turned to One River Digital, which went to Coinbase to hit the “buy” button on a purchase now worth over $745 million, Ruffer representative Jonathan Atkins confirmed to CoinDesk.

In a recent portfolio update, Ruffer alluded to the involvement of the “world’s largest custodian of digital assets” without naming names. “Access to the bitcoin is controlled by multi-layer security protocols,” Ruffer wrote of its cold-storage setup. A second source confirmed to CoinDesk that Coinbase was the custodian described in Ruffer’s portfolio update. Coinbase Custody announced last month it was storing over $20 billion in customer assets.