Legendary value investor and billionaire Bill Miller is riding on a high tide called Bitcoin. The ‘man’ himself is now represented by 50% of his personal assets being vested in Bitcoin (BTC).
In his interview with WealthTrack, published on 8 January 2022, Miller said that digital currency and some related crypto investments now account for half of his investment portfolio. At this point, Miller no longer calls himself a ‘Bitcoin observer’ but rather a Bitcoin bull.
Miller held a minor amount in BTC until not very long ago. According to him, his recent Bitcoin (BTC) shopping spree, during the perfect buy-in opportunity where Bitcoin had dropped to $30,000 last year, was the result of the token’s continuous price growth and captivating basics. Miller stated,
“Bitcoin has gone up an average of 170% a year for the past 11 years… There are a lot more people using it now, a lot more money going into it from the venture capital world, there are a lot of skeptics that are trying it out now.”
Miller said that he directly started purchasing the token at $200 in 2014 after listening to a talk by Wences Casares, known as the ‘Patient Zero’ of Bitcoin for introducing it to Silicon Valley circles, at the annual Sun Valley media and tech conference. He went on to buy more of the tokens over time, but then stopped for a while, until last year when the price started to soar high and then started to drop sharply; he assumed that it was the right time to buy the dip. He started buying it again because there were a lot more people using it and many venture capitalists and others were investing in it too.
Crypto is a safe haven to Bill Miller
Legendary investor Bill Miller said that he thinks Bitcoin (BTC) is best though of as ‘digital gold’ with a strictly limited supply and that he’s only now allowed himself to be called a ‘Bitcoin Bull’ because he feels that it has now developed into a game changing technology.
He says that another important driving force to his investments in Bitcoin was the government’s lack of ability to interfere in cryptocurrency’s economics and ownership. Miller believes that Cryptocurrency is just like an insurance policy as the government cannot confiscate either. At the time of writing, Bitcoin was priced at $41,712.02 and had risen by 1.77% in the last 24 hours.