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Investing.com – Bill Miller III is known to have been an early investor in Amazon (NASDAQ:), which makes him a highly valued interview partner. On January 6, he told CNBC that the had absolutely nothing to do with companies like FTX and Celsius (NASDAQ:) Network.
These companies have been victims of management decisions, while the is a decentralized network. Bitcoin is therefore unlikely to experience a similar disaster. But cryptocurrency not only stands out from crypto businesses in a positive sense, it has also proven its resilience in difficult times, such as thehas explained Miller:
“The Fed had to step in and clean up established markets by simply injecting massive amounts of liquidity as bitcoin traded 24/7/365. There was not a single hiccups in the bitcoin market”.
Miller thus alludes to the turbulence linked to the pandemic. Traditional markets needed the courageous intervention of central banks to avoid the worst, but bitcoin did without this support.
The investor also does not accept the argument that bitcoin is far too volatile to be considered a serious asset. Because “over the past few months, it has been less volatile than the market”.
By Marco Oehrl