Billionaire Bill Miller Has 50% Of Portfolio In Bitcoin » Crypto Insiders

Billionaire Bill Miller, a famous investor, is extreme bullish over bitcoin (BTC). The asset manager has as much as 50% of its net worth in bitcoin and in bitcoin-related businesses.

It is about Michael Saylor’s MicroStrategy, who already owns billions in BTC, and the bitcoin-mining company Stronghold Digital Mining. The rest of his portfolio, the remaining 50%, is primarily in Amazon, of which Miller is an early investor.

Miller says in an interview with WealthTrack that he is now a real bitcoin bull. He bought his first BTC back in 2014 when the price was still around $200, and bought a little more when the price was around $500.

For years, Miller stopped buying bitcoin, but that changed in 2021. After bitcoin in April a new all-time high (ATH), around $66,000, then dropped to $30,000 over the summer, it was time for him to get in fully.

“This time I started buying it again for $30,000, after a drop of $66,000. The rationale was that a lot more people are using it and a lot more money is coming in from the venture capital world.”

According to Miller, who “bought the dip.” He says he sees bitcoin as an “insurance policy against financial catastrophe.” The billionaire also sees bitcoin as a powerful investment vehicle that outperforms gold and points to the maximum supply of 21 million bitcoins that will ever exist.

Not 50%, but 1%

He himself does not advise other investors to invest 50% in bitcoin, but at least 1%:

“I think the average investor should ask themselves, what do you have in your portfolio with such a track record – that has penetrated very, very little, offers insurance against financial disaster that no one else can offer and can provide 10 times or 50 times to rise? The answer is nothing.”

The billionaire investor is best known for beating the S&P500 index 15 years in a row as a fund manager for Legg Mason.

Trying to wrap my head around the fact that Bill Miller has a half-Bitcoin and half-Amazon portfolio. pic.twitter.com/Wzn33DBZAX

— Lyn Alden (@LynAldenContact) January 10, 2022

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