Legendary investor Bill Miller, Founder and Chief Investment Officer, Miller Value Partners in Bitcoin (BTC) and plays big in other cryptocurrencies. In a recent interview with Wealthtrack, Miller said; He explained that 50 percent of his personal portfolio is in Bitcoin and several other Bitcoin-related investments, and why.
Founder and CIO of Miller Value Partners, “I would say it’s a combination of things – like that to allow something to make up such a large part of your portfolio. [bir denge] should have been” commented.
Miller cited his belief that Bitcoin is equivalent to “digital gold” as one of the reasons he has a high degree of trust in the top cryptocurrency, noting that the limited supply of BTC will eventually drive the price up:
“Only 21 million Bitcoins could have been created… It doesn’t matter if Bitcoin is worth $100,000 or $20 million; there will always be only that number. Therefore, all you really have to believe is that the demand for Bitcoin will grow by more than 1.5 percent in the coming years and the price will rise irresistibly.”
Miller also explained why he is particularly bullish on Bitcoin, rather than gold, which is known as a more traditional “savings” asset class:
“In 5000 years, [altın] It went from three cents to only 1850 dollars, but Bitcoin went from three cents to 57,000 dollars in just 10 years. Then why should I invest in gold?
Especially since the value of gold has been declining in the last decade… Bitcoin has been the best performing asset category in the world over the past decade.”
Also in an interview with WealthRack’s Consuelo Mack, Miller said that he first invested in the largest cryptocurrency in 2014 and then started buying again last spring as venture capital firms’ increased interest in BTC:
“I bought some in 2014 and gradually added a little more and it got to 500 USD. Then I stopped buying. And for several years, [2021] I didn’t buy it until spring. It reached as high as $66,000 USD and then halved within four weeks.”
According to Miller’s statement, the legendary investor, “[BTC’yi] He started to buy BTC again at 30,000 USD, citing the fact that “many more people use it and much more money comes from the world of venture capital”.
The investor has also invested in many Bitcoin-related stocks, including Stronghold Digital Mining Inc (SDIG) and MicroStrategy Incorporated (MSTR). Miller noted that alongside Bitcoin-related investments, Amazon.com, Inc. (AMZN) makes up a significant portion of his personal portfolio.
As of writing, Bitcoin is trading at $41,283, down over 2% in the last 24 hours. The market-leading digital asset has been trading with a correction of about 13 percent over the past seven days.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.