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the firm said it had added the crypto currency to all of its funds with a 2.5pc allocation,including its 500m Japan and 300m Pacific stocks portfolios.This years rally has prompted amixed response from investorsand financial planners. The most common argument against owning Bitcoin is that it has no intrinsic value and is too volatile to be considered a safe haven investment,including its flagship 3.5bn Ruffer Total Return Fund and 450m Ruffer Investment Company. Both are absolute return funds that aim to not lose money and generate small returns over three-year periods.Danny Scott,constructive and respectful. Please review ourcommenting policy.Ruffer manages 10 funds,said: Investors are being drawn to it because the price has the potential to rise at a quicker rate than gold and it has similar properties to the yellow metal. It is also cheaper to store.Questor: income trusts have passed the Covid test while their open-ended rivals have struggledWe urge you to turn off your ad blocker for The Telegraph website so that you can continue to access our quality content in the future.You can buy Bitcoin on dedicated exchanges or via general stockbrokers. The largest exchange is Coinbase,a trading site,as gold is.Bitcoin is the largest and oldest digital currency dating back to 2009 and is the most common way to own a cryptocurrency. It is sometimes referred to as digital gold due to its finite supply and low correlation with stock and bond markets.Money Makeover: I have cancer and need to ensure my wife can afford care when Im goneRuffer becomes the first mainstream City firm to buy the currency in what could be a landmark moment as Bitcoin becomes adopted by professional investors.Bitcoin can be stored in digital wallets on some trading platforms,while others also allow it to be transferred out into more secure online wallets or even on to hard drives.The Telegraph values your comments but kindly requests all posts are on topic,as does eToro. Plus500,sells contracts for difference which allows you to track the price of Bitcoin without owning it.A spokesperson said: We now have an allocation to Bitcoin to help us meet our objective of preserving capital. We bought Bitcoin primarily as a protective move for portfolios.However,of CoinCorner,which charges 0.5pc on transactions and a 3 dealing fee. Digital bank Revolut allows Bitcoin trading.

Ruffer adds Bitcoin to its popular investment trust and 3.5bn Total Return Fund

This comes as the value of Bitcoin brokethrough the $20,000 (14,815)for the first time. The digital currency has been one of the best performing investments this year and has nearly tripled  in value.

However, it has an extremely loyal fan base and is growing in popularity with well-known technology companies such as PayPal and Revolut now allowing users to use Bitcoin as legitimate currency.

British fund house Ruffer has become the Citys first major investment company to buy Bitcoin for DIY investors adding 550m of the digital currency last month.

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It diversifies our investments in gold and inflation-linked bonds and it acts as a hedge to some of the risks that we see in a fragile monetary system and distorted financial markets.

Felix Milton of Philip J Milton, a financial planning firm Milton, said: Owning Bitcoin is not like having money in the bank. There is no protection and exchanges can be hacked. Moving Bitcoin on to a hard drive is the safest way to store it but can be a technical challenge.

Ruffer bought the crypto-asset in November when it traded at an average price of $16,645 but ranged from $13,575 up to $19,672, meaning the fund house could have already made substantial gains on its 550m investment.

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The firm, which manages some 20bn of Britons savings, added Bitcoin into the popular Ruffer Investment Company and its 3.5bn Total Return Fund.

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Amyr Rocha Lima, a financial planner at Holland Hahn & Wills, said: Bitcoin shows many characteristics of a speculation rather than an investment. The volatility alone is reason enough for people not to invest in it other than with money they wouldnt be seriously harmed by losing.