Famous investor and fund manager Bill Miller made positive statements about Bitcoin. Miller, who has been following Bitcoin closely since 2014, thinks that every big bank will eventually take the Bitcoin train.
Veteran fund manager Bill Miller stated that all major banks will eventually give their customers the opportunity to invest in Bitcoin or similar cryptocurrencies. Miller commented that the power of the biggest cryptocurrency is increasing day by day.
Important names and companies in the world of economy have been making positive statements about Bitcoin recently. While many companies and institutions are starting to invest in Bitcoin, rumors about when others will take this train are increasing day by day. Following the giant initiatives of MicroStrategy, Square and Paypal on this issue, the famous fund manager Bill Miller has now joined the people who made positive comments on BTC. Miller made the following comments on the subject on CNBC:
“I think big banks, big investment banks, and high-value firms will eventually switch to Bitcoin or similar currencies. Bitcoin is now an investment tool like gold and other commodities.
The famous fund manager who stated that Bitcoin is getting stronger day by day and its price is volatile, but the probability of the biggest cryptocurrency to go to zero is very low compared to the past, BTC’s best performing asset class in the last 1, 5 and 10 years. stated that:
“It’s easy to understand the story of Bitcoin. Supply and demand. The supply of bitcoin is increasing at the level of 2.5 percent every year, but the demand is growing much faster and eventually the increase in supply will cease and become a constant figure. ”
The CNBC interview is not the first time the former portfolio manager of Legg Mason Value Trust praised BTC. Miller announced in December 2017 that the MVP 1 fund invested about 50 percent in Bitcoin.
As it is known, Bill Miller is not the first fund manager to emphasize the importance of investing in Bitcoin. Previously, another famous investor Paul Tudor Jones also announced that he has seen a big rise in Bitcoin and allocates 2 percent of his portfolio to the biggest cryptocurrency.
“Buying Bitcoin is like investing in Google early on”
Michael Taylor, CEO of MicroStrategy, which bought $ 425 million worth of Bitcoin with Jones in August and September, compared investing in Bitcoin to an early investment in Google, Facebook, Apple and Amazon.
Bill Miller, founder and chairman of the board of directors of Miller Value Partners, is also the company’s investment director. Miller, who currently manages the Opprtunity Equity and Incom Strategy portfolios, became the co-founder of Legg Mason Capital Management and was one of the two persons responsible for the Legg Mason Capital Management Trust until 1982, when the firm was founded. Miller, who started to do this task alone in 1990, held this post for 20 years.
The portfolios managed by Miller, who also worked as financial affairs officer in the steel and cement industry before Legg Mason, surpassed the S&P 500 index every year from 1991 to 2005 and made him famous.