Bill Miller, Chairman and Chief Investment Officer of Miller Value Partners, discussed his cryptocurrency investment strategy and added several reasons why Bitcoinu bull.
In an extensive interview with FutureProof, the head of the investment company, which manages more than $ 3 billion in assets, described what his bitcoin beginnings were and why this covered believes in the future.
“I joined Bitcoin sometime around 2013. When I started my first purchases, its price was around $ 200. Then it started to grow to $ 1,100 – $ 1,200. And then came the collapse of Mt. Gox and Bitcoin fell again to $ 200. […] So I started buying it again. My average purchase price is about $ 300 a coin. ”
Why does he recommend investing in BTC?
Miller says there are several basic reasons why he became such an early investor and longtime supporter of this world’s leading cryptocurrency.
“The nature of what Bitcoin was trying to offer offered many different ways and means of succeeding. My view was that if he could really succeed in any of these areas (it would become a currency, a payment system, a non-correlating asset…), it would lead to a dramatic rise in price. This was also helped by the fact that BTC’s offer is limited to 21 million coins and, in addition, is decentralized. This means that it cannot be manipulated or degraded. “
Bitcoin is still a great investment
In terms of investment, Miller believes that Bitcoin continues to offer a very favorable risk reward ratio (RRR). It recommends companies to invest 1-2 percent of their capital in BTC. He himself believes that in the long run, his investment could be valued up to 1,000 times, which, given its average purchase price, means $ 300,000 for 1 BTC coin.
“I could make a hundred times my money, I could make a thousand times, and maybe more. I can only lose 100%…. I still have all my bitcoins, I haven’t sold any… “
Conclusion
Miller also ventured into the past, noting that in the 1970s and early 1980s, people invested an average of 5 percent of their assets in gold because gold they took it as insurance in case the inflation they experienced in the 1970s returned. If a person wants to do a similar sensible thing today, then according to him, it makes sense to have 1-2 percent of assets in BTC.
Disclaimer: This article does not contain investment advice and we disclaim any liability. If you decide to invest in something, always make your own opinion and research.
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