In this article, you will get all information regarding Billionaire Investor Bill Miller Sees New Opportunities for Bitcoin… – CryptoPotato
Legendary investor Bill Miller continues to be bullish on Bitcoin despite the crypto asset having been hit by a sharp selloff this year.
The Baltimore investment giant rose to prominence by outperforming the S&P 500 every year from 1991 to 2005. He then served as chairman and chief investment officer of Miller Value Partners, which had $1.9 billion in assets under management at the end of August 2022.
Despite the recent announcement of his retirement, Bitcoin remains one of his signature bets.
- In an interview with Barron’s, the 72-year-old billionaire reiterated his bullish stance and said Bitcoin remains one of his top personal holdings.
- Miller sees cryptocurrency as a potential store of value, much like digital gold, but clarified that other digital assets don’t excite him and can be “lumped in the category of venture speculation.”
“Most of them, like most venture capital investments, will fail. But I’ve never heard a good argument that you shouldn’t invest at least 1% of your net worth in Bitcoin. anyone can afford to lose 1%.”
- The bankruptcy of FTX caused severe disruption in the market and proved to be a catalyst for the crypto winter.
- Miller, for his part, said he was surprised that Bitcoin “isn’t half its current price” given the much-publicized implosion. He considers the asset’s price hovering around $17,000 to be “remarkable”, given that many players have “fleed” the scene to recover from losses.
- The fund manager further predicted that the flagship crypto-asset would likely perform better once the Federal Reserve eases its monetary policy.
- Bitcoin has taken a massive beating this year, and veteran crypto analyst Nicholas Merten predicts more pain to come.
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Billionaire Investor Bill Miller Sees New Opportunities for Bitcoin… – CryptoPotato
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