Why Billionaire Investor Bill Miller Is Betting Big on Bitcoin In 2022

Popular value investor Bill Miller has revealed why he is betting big on Bitcoin (BTC) in 2022. The Founder and Chief Investment Officer (CIO) of Miller Value Partners revealed this during a recent interview with Wealthtrack.

Bill Miller Puts 50% of His Entire Worth on Bitcoin, Explains Why

Miller who has a long history of high value investments and currently holds the record for beating S & P 500 for 15 consecutive years has explained why he is placing 50% of his $2.4 billion worth of assets on Bitcoin and some other crypto-related investments. He said:

“I’d say it’s a combination of things — it would have to be, to allow something to get that big a part of your portfolio.”

Miller’s reasons may appear to be bordering on some carefully thought out calculations however. For instance, the billionaire investor mentioned the fact that only 21 million Bitcoin can ever be created. And according to him, if there’s a limit to what amount of Bitcoin there can be created, then it doesn’t matter what the price of Bitcoin is at the moment, it will surely go up.

That means so far there can only be as many as 21 million Bitcoin in circulation, demand for the apex cryptocurrency will definitely increase as the years go by, leading its price to go up unstoppably.

Bitcoin Vs Gold

While for long Bitcoin has been dubbed the “digital gold,” Miller has a preference for Bitcoin over gold. Explaining his choice, Miller simply says gold being the more conventional “store of value” asset class isn’t enough. He says:

“In 5000 years, it has gone from a nickel to $1850, and in 10 years, Bitcoin has gone from a nickel to $57,000”

He then simply asked why he or any right thinking person would own gold over Bitcoin considering the performance of both assets in the last decade.

Meanwhile, the investor is not only betting on Bitcoin for the year. According to him, he has also put some of his money into several Bitcoin-related stocks, including MicroStrategy Inc. (NASDAQ:MSTR) and Stronghold Digital Mining Inc (NASDAQ:SDIG). He also claims that another substantial portion of his personal portfolio, aside from Bitcoin-related investments, would be found in Amazon.com, Inc (NASDAQ:AMZN).

The post Why Billionaire Investor Bill Miller Is Betting Big on Bitcoin In 2022 appeared first on CoinGape.

--

--

--

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Influencer Marketing Has Taken Over the Crypto World

Child Abuse Chain, FUD or Serious threat to Crypto?

The A-Z of Stablecoins

How To Earn Cryptocurrency

Hard forks, soft forks, and choices.

Get Your Questions Answered and Wallets Fattened With Seascape & WOWSwap!

Teeka Tiwari: Biography And Latest Articles — Townhall Finance

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
thecryptocoinreport.com

thecryptocoinreport.com

More from Medium

Crypto Investors Back Bitcoin, Altcoins, and NFTs to Outperform Stocks in 2022

Crypto Investors Back Bitcoin, Altcoins, and NFTs to Outperform Stocks in 2022

The Greatest Investment Story That Never Gets Old

Chicken Hatching Bitcoin

BTC Leverage Flush Looms,Microsoft Frames $69B Activision Blizzard Deal!

CryptoRevolution #14