Bill Miller, the billionaire founder and Chief Investment Officer of investment firm Miller Value Partners, said he sees Bitcoin (BTC) as “insurance” against financial disaster.
Billionaire Bill Miller, 24 May on a podcast he participated in bitcoin He shared his thoughts on Miller, cryptocurrency as “insurance” against a financial disaster described it.
Saying that examples of crypto can act as insurance “do not have to be all or nothing,” Miller said. How Bitcoin has performed in the early stages of the pandemic without the intervention of the Fed mentioned.
Bitcoin has done its job well. There was no problem. The system worked without the Fed and without any interference. Everyone bought Bitcoin, the price corrected, and then when Bitcoiners noticed inflation, the price skyrocketed. To me, this is an insurance policy.
Miller is also a billionaire investor. Warren Buffett’of, bitcoinof “does not produce any value” and all the Bitcoin in the world at even $25 “won’t take” criticized his words.
He said that Bitcoin is an unproductive asset and therefore would not value it. Fair enough. If the only things you think you can value are productive assets, then no one is forcing you to buy them, right? So ignore it. YThe purpose of investing is not to have productive assets, but to make money.
January half of its net worth in bitcoinMiller, who invested in 40% to 50%of the in Amazon stocks that and Bitcoin investment “almost the same as Amazon” He said there was. Miller, that he shares 80% of his net worth among these assets. added.
1991 and 2005 between the years Managing a portfolio that consistently outperformed the returns of the S&P 500 index for 15 consecutive years famous one Miller Moreover Bitcoin advocate known as.