$ 2.25 billion fund applies to SEC for Bitcoin investment

Famous investor and hedge fund manager Bill Miller reported that Miller Value Funds can invest in Grayscale Bitcoin Trust through its flagship fund Miller Opportunity Trust.

In the document submitted to the US Securities and Exchange Commission (SEC), “The Fund may want to invest in Bitcoin indirectly by investing in Grayscale Bitcoin Trust. Grayscale Bitcoin Trust mainly invests in Bitcoin. As a result of the investment, if the fund’s Bitcoin position is more than 15 percent of its assets at the time of investment, no additional investment will be made to Grayscale Bitcoin Trust. ” It was said.

The fund in question has assets worth $ 2 billion 250 million as of December 31, 2020. A 15 percent investment means an investment of $ 337 million in Grayscale Bitcoin Trust.

Miller has been investing in Bitcoin for a long time. In a statement made last month, the famous investor described it as “a big mistake” not to buy Bitcoin.

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