Why Bill Miller Puts Half of His Wealth Into Bitcoin & Altcoin?

Cryptocurrency

Legendary investor Bill Miller has proclaimed that he invested half of his wealth into BTC and several other crypto exchange coins. Bill Miller is the founder and CEO of Miller Value Partners made his first significant crypto investment in 2014. Since then he started investing in cryptocurrencies amid a surge in interest by VC firms.

 

What trusts miller the most in Bitcoin?

Heavy Investor Bill Miller says that cryptocurrencies other than BTC will not give him high returns as Bitcoin is going to give. Because of this, Miller’s fund manager has not put even a single penny into other crypto assets. 

Although Bitcoin is trading between 30K to 60K USD, soon, we can see a booming change in the price of Bitcoin. Maybe Miller also understands the growth potential of Bitcoin. 

Once in a podcast, he disclosed that he purchased Bitcoins around $250 per coin in the year 2014 and around $350 in the year 2015, which depicts the holding of Bill Miller’s crypto profile. 

Why big investors are investing in cryptocurrencies? 

Investors see great growth prospects in cryptocurrencies due to their versatility and ability to grow constantly. 

Since the time of its creation, Bitcoin has provided multiple folds of returns to its early investors, or to say, early believers. 

Higher liquidity is also one of the things that attract investors. Liquidity denotes the ability of an asset to be exchanged for cash. 

Decentralization has played an important role in the growth of cryptocurrencies. 

There are over 2000+ cryptocurrencies available in the world. And the crypto world is constantly growing with abundant opportunities. 

Bill Miller is protecting his wealth under the crypto umbrella

In conclusion, Miller believes that the cryptocurrency market has raised heavily over the past year and a half primarily because people started seeing cryptos as a hedging tool. They feel that this asset class will keep their wealth safe and secure during times of recession. 

The inflation is striking harder, as the money printing is constantly going on, Bitcoin presents a valid protection option. He further added that he thinks that bitcoin is similar to digital gold, which is the protecting shield against financial tragedy. 

Author: Abhishek Kumar

A self-believer who loves to learn and spread the light of wisdom in his community. You could find him writing about finance, cryptos, and marketing. Moreover, he loves to read non-fiction and drink non-alcoholic drinks.

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