Bitcoin, which has been seen as a safe investment tool for years, has now started to fill the place of gold.
The new favorite investment vehicle, Bitcoin, has long been supported by many investors inside and outside the crypto market.
The Miller Opportunity Trust, a mutual fund managed by famous investor Bill Miller, known as a Bitcoin advocate, believes Bitcoin has solid upside potential as “digital gold.”
Stating that it is still not too late to invest in Bitcoin and enter the market, the billionaire investor stated that they bought Bitcoin despite the serious decline of Bitcoin in May.
While some gold proponents argue that gold is more valuable than Bitcoin, drawing a conclusion on market capitalization, according to Miller, Bitcoin did a better job than gold in a shorter time.
Miller’s fund acknowledges that Bitcoin has a long way to go, but argues that the gains in the end will outweigh the risks.
The market value of gold is more than 11 trillion dollars, while the value of Bitcoin is around 800 billion dollars. This shows we still have a ways to go. We are at the beginning of an ongoing adoption curve. Bitcoin will continue to be volatile, but we think the risk-reward ratio is attractive.