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The Wealthy Are Jumping Into Bitcoin as Stigma Around Crypto Fades

With Bitcoin surging more than 270% since March, the rich are ratcheting up investments in digital currencies and anticipating further gains.

ITALY-BITCOIN-COMPRO-EURO-CRYPTOCURRENCY — Photographer: Pierre Teyssot/AFP/Getty Images

By

Edward Robinson and

Benjamin Stupples

December 11, 2020, 5:01 AM UTC

Christian Armbruester wishes he’d bought more.

Armbruester, the founder of Blu Family Office, a London-based investment firm for wealthy clients, dabbled in cryptocurrencies a few years ago. But the onetime investment banker, whose family made a fortune in metals and manufacturing, believes cryptocurrencies have earned a place in a diversified portfolio. With Bitcoin surging more than 270% since its 12-month low in March, he’s ratcheting up his investments in the space and eyeing big gains.