Billionaire Bill Miller said in an interview that investing in bitcoin is now less risky than it was in 2016, and suggested that altcoins do not have such potential.
Bill Miller, Investor and Founder of Miller Value Partners, at
recent conversation with William Green, advocated Bitcoin’s growth, but expressed concerns about many altcoins.
Miller supports the idea that Bitcoin is digital gold. In early 2016, he invested 30% of his portfolio in Bitcoin. Then the average price of BTC was $ 500. He recently filed with the SEC with a proposal for The Miller Opportunity Trust to invest in bitcoin at an institutional level.
“Bitcoin carries less risk at $ 43,000 than at $ 300. Now banks are investing in it and large amounts of venture capital have been invested, ”he said.
In addition, Miller spoke about how he sees the potential of altcoins:
“There are ten thousand different tokens and so on. The chances that a small handful will be worthwhile are very, very small. But bitcoin and ether will be around for a while. ”
Talking about the growing influence of Coinbase, he advised investors not to be careful in the next couple of years. Miller believes the Nasdaq-listed COIN is the default position for investors.
In September, the management of Bill Miller’s fund, Miller Opportunity Trust, expressed the opinion that bitcoin has significant growth potential, since this asset can act as a digital analogue of gold.
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