Notwithstanding Bitcoin (BTC) hitting multi-month lows around $40,000 in the beginning of January 2022, investor Bill Miller remains positive.
As he stated in a WealthTrack discussion past Friday, Miller no more deems himself a “Bitcoin spectator,” but instead a true Bitcoin bull.
Bitcoin and associated investments in big industry businesses like Michael Saylor’s MicroStrategy as well as BTC mining startup Stronghold Digital Mining currently account for half of the billionaire investor’s net wealth. Miller, an initial Amazon investor, holds approximately all of the remainder of his holdings in Amazon, he said.
Bitcoin, according to the wealthy investor, is an “insurance policy for a fiscal meltdown” and also a great investment instrument that has outperformed gold. He also mentioned Bitcoin’s rarity, which means that just 21 million may be generated.
Miller advised private investors to deposit at minimum 1% of their assets in Bitcoin, albeit investing as much as 50% in adjacent markets.
Miller, who is presently commemorating his 40th year in the financial industry, is the chief investment officer of Miller Value Partners, which he formed in 1999 whilst employed at Legg Mason. With Legg Mason, wherein he reputedly handled up to $70 billion, the renowned investor is recognised for outperforming the S&P 500 almost 15 years in a row.
By the conclusion of 2008, Miller’s marquee fund, Legg Mason Capital Management Value Trust, had lost two-thirds of its worth owing to the fiscal crisis.
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