Veteran Investor Bill Miller Remains Bullish on Bitcoin — Confirms He Has a Lot of BTC

Famed worth capitalist and money manager Bill Miller says helium has “a lot” of bitcoin and has not sold immoderate contempt the caller crypto sell-off. He insisted that investors should enactment immoderate of their liquid nett worthy successful the cryptocurrency.

Bill Miller Shares His Bitcoin Outlook

Famed worth capitalist Bill Miller is inactive bullish astir bitcoin contempt caller terms declines. He confirmed successful an interrogation with CNBC Thursday that helium owns “a lot” of bitcoin and hasn’t sold any.

Miller is the laminitis of Miller Value Partners and presently serves arsenic its president and main concern officer. He manages the firm’s Opportunity Equity and Income Strategy funds. Prior to Miller Value Partners, helium co-founded Legg Mason Capital Management.

He explained that if bitcoin goes down to fractional its existent price, helium wouldn’t beryllium amazed owed to its volatility. However, “I would beryllium grim due to the fact that I ain a batch of it,” the money manager said.

Miller was asked, “Are you selling immoderate [bitcoin], person you sold any?” He replied:

The abbreviated reply is no.

However, helium clarified that helium sometimes sells “stuff” to conscionable borderline calls. “I’ve sold worldly to conscionable borderline calls due to the fact that I’m ever connected borderline and the worldly that you merchantability is the worldly that is very, precise liquid, for maine anyway,” helium explained, without mentioning BTC specifically.

At the clip of writing, bitcoin is trading astatine $30,064, up 1.5% successful the past 24 hours but down 15.5% successful the past 7 days and astir 25% successful the past 30 days.

Commenting connected investors losing wealth amid crypto sell-offs past week, Miller said: “If radical person mislaid a batch of wealth successful crypto, they person been speculating connected the worldly they don’t cognize thing about, particularly if they are amazed to person mislaid wealth due to the fact that astir of the ICOs [initial coin offerings] that came astir successful 2017 person gone to zero.”

There are presently astir 20,000 cryptocurrencies, according to Coinmarketcap. Miller said: “All but for bitcoin, including ethereum, person competition.” He noted that helium does not person the expertise to measure each crypto projects but is “comfortable with bitcoin.”

Miller was besides asked if helium thinks bitcoin is simply a bargain astatine $29,000. He replied:

I haven’t heard a bully statement astir wherefore you wouldn’t enactment 1% of your liquid nett worthy successful bitcoin.

He added that it is particularly existent if you lived successful countries similar Venezuela, Argentina, Lebanon, Turkey, Nigeria, Iraq, Ukraine, and Russia. The famed capitalist noted: “Russia mislaid 50% of their reserves erstwhile the U.S. decided it was going to authorisation them.” He said successful March that this is “very bullish for bitcoin.” Miller antecedently called BTC an “insurance against fiscal catastrophe.”

What bash you deliberation astir Bill Miller’s comments? Let america cognize successful the comments conception below.

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