Bitcoin (BTC) and cryptocurrencies known for its support for US billionaire Bill Miller He reiterated his support for BTC in a recent interview with Barron’s.
Evaluating the events in the crypto market, the famous investor said that he was surprised by Bitcoin’s performance despite negative events such as the bankruptcy of FTX.
Stating that after the bankruptcy of FTX, most investors prefer to stay away from the crypto money market, Miller said, bitcoinHe stated that contrary to the current price consolidation of .
The famous billionaire, who predicted that Bitcoin will perform better in the future as the Fed’s monetary policy begins to soften, continued as follows:
“Given the FTX crash, I am surprised that Bitcoin is not at half its current price.
People have fled the crypto market, but it’s quite remarkable that BTC still remains at $17,000.
But inflation is under attack and real rates are rising rapidly. I believe Bitcoin will do pretty well if and when the FED starts to turn towards easier and softer monetary policy.”
BTC’Reiterating that it should be considered as a digital store of value similar to gold, Bill Miller emphasized that Bitcoin has recorded significant growth despite the great selling pressure it experienced in 2022.
Stating that Bitcoin should be distinguished from some cryptocurrencies in this respect, Miller used the following statements:
“First, I want to differentiate between Bitcoin and all other cryptocurrencies, which I see as a potential store of value like digital gold.
Most will fail, like venture investment. However, I have not heard a recommendation or a word that you should not invest at least 1% of your net worth in Bitcoin. Anyone can afford to lose 1 percent.”
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!