Billionaire Bill Miller Comments on the Positive Future of Bitcoin

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2022-03-07 02:55:22

Before the turmoil taking place in the world, especially the situation in Ukraine, founder and fund manager Bill Miller still has great faith in Bitcoin.

Bill Miller is the founder of Miller Value Partners and is currently the company’s chairman and chief investment officer. He also manages the Opportunity Equity and Income Strategy fund. Prior to founding Miller Value Partners, he co-founded Legg Mason Capital Management. For a long time, Bill Miller has invested heavily in Bitcoin and owns a large amount of this digital currency. He once called Bitcoin “digital gold” and “insurance against financial disaster.”

Billionaire Bill Miller is still very optimistic about the future of Bitcoin

In an interview with CNBC, Bill Miller expressed confidence in the positive future of the Bitcoin digital currency in the context of Russia being imposed by many other countries with sanctions.

Last week, European Commission President Ursula von der Leyen said:

“We will cripple the assets of the Russian central bank. This will freeze its transactions. And it will make it impossible for the central bank to liquidate its assets.”

Commenting on the situation, the chairman of the investment fund Bill Miller said:

“If you look at Russia right now, they have 16% of the $640 billion in reserves in dollars. and 32% in euros. So they have almost 50% of the currency reserves belonging to the strongest economies in the world. In addition, Russia has 22% of its reserves in gold and that is the part of the reserves that other countries cannot control. Cryptocurrency is a positive exit for the Russian economy. So I believe that in the future, Bitcoin will develop in a positive direction.”

However, with other cryptocurrencies, Bill Miller does not have many good reviews. He even considers them to be forms of venture capital. He said:

“I think bitcoin is unique and the rest of cryptocurrencies should be considered venture capital investments because they all have their own problems, which are hard to grasp.”



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