Miller Opportunity Trust under the management of billionaire Bill Miller can invest in Grayscale Bitcoin Trust up to 15% of the assets under the management of the fund – about $ 337 million.
According to the Miller Opportunity Trust filing with the US Securities and Exchange Commission (SEC), “the fund can indirectly invest in bitcoin through investments in the Grayscale Bitcoin Trust, the organization that owns BTC.”
“Grayscale Bitcoin Trust invests in bitcoin. The fund will not make any additional investments in the Grayscale Bitcoin Trust if, as a result of investments, its total investments in the cryptocurrency amount to more than 15% of its assets at the time of investment, ”the application says.
As of December 31, 2020, the Miller Opportunity Trust managed assets of $ 2.25 billion. Thus, the maximum investment of the fund in GBTC could be up to $ 337 million. The fund is jointly managed by Bill Miller and Samantha McLemore.
Earlier, Bill Miller has repeatedly spoken out in support of bitcoin. In January, he said that Bitcoin is the only asset with this kind of growth potential and liquidity, and also said that as the price of BTC rises, the risks associated with it will decrease. As a reminder, back in 2017, Miller successfully invested a third of his hedge fund’s money in Bitcoin.