Legendary Investor Bill Miller Shared His Opinion on Bitcoin
March 3, 2018
The founder of Miller Value Partners hedge fund and a legendary American millionaire investor Bill Miller in an interview with FOXBusiness shared his opinion on the cryptocurrency market and told why investors should not be frightened by the volatility of digital currencies.
Miller said that he considers himself a cryptocurrency "observer", rather than "believer" and compared digital currencies with other major inventions.
"What I observed with bitcoin is that it’s following a very time-honored path of disruptive innovation going all the way back to the printing press, railroad, electricity, radio in the 1920s, biotech, the internet."
Although many Wall Street investors are concerned about the cryptocurrency "bubble" and are afraid that it can become much worse than the dotcom bubble, Miller is convinced that this bubble is necessary. He believes that through this bubble the viability of this technology will be tested.
Miller is definitely interested in cryptocurrencies. In July 2017 he told that he keeps 1 percent of his net worth in bitcoin since 2014. Moreover, later this year he revealed that almost 50% of assets of his aforementioned hedge fund (approximately $1.1 billion) is invested in BTC.