Rich and crypto-enthusiastic – From May 2020, a certain movement of interest was born among the billionaires of the planet, helped by the statements of the investor Paul Tudor Jones and his bitcoin (BTC) purchase. But long before cryptos became all the rage among billionaires, Bill Miller had already bet a big deal on Bitcoin. He once again confirms his bet today.
This billionaire makes a “half all-in” on Bitcoin
The threat of strong inflation, which weighs on the dollar and fiat currencies, opens the eyes of billionaires to the desirability of protection what can represent Bitcoin, which is increasingly seen as digital gold.
Some even understood it very early on, like Bill Miller who, from 2017, invested heavily in his company – Miller Value Partners – in Bitcoin. But the businessman is not content to put the capital of his investment fund there.
In an interview with WealthTrack, Bill Miller reveals that Bitcoin and the cryptocurrency industry now represent half of his wallet investment staff. If he started buying BTC as soon as 2014 – at the price of 500 dollars unity, he had not taken it for several years, before starting again at spring 2021.
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Bill Miller has ” Buy the Dip »On Bitcoin in May-June 2021
Although he readily admits that Bitcoin still has a strong “Volatility”, and that it is even “Dangerous” in the event of a position multiplied by levers, Bill Miller explains that he took advantage of the fall in prices of spring 2021 to buy bitcoins around $ 30,000 unity.
Its reason is simple: the investor considers that adoption of the king of cryptos is in full swing growth, and that more and more fresh money arrives in its ecosystem:
“(…) There are many more people who use [Bitcoin] now, and there is a lot more money coming in from institutional investors (…) ”
With the reinforcement of his Bitcoin-related positions, Bill Miller explains that he has become much more than just ” observer “ of the king of cryptocurrencies (as he considered himself before), and rather now be a ” bull “ (bullish) on BTC.
Be careful, however, Bill Miller is very selective on the cryptomonanies that they consider viable in the long term. So, except for Bitcoin and Ethereum (ETH), the investor considers that a lot of altcoins will simply end up disappearing.
Bitcoin is increasingly accepted as a protection against a threatening economic world. If you want to join the crypto revolution and get an idea for yourself of the new finance and all the possibilities it offers, register on the KuCoin platform and start trading your BTC or other cryptos there today! (affiliate link)