In Bitcoin, we trust – More and more reputable investors are not only looking into the Bitcoin case, but are outright praising it.
After Paul Tudor Jones, it is now Bill Miller who says that Immediate Edge will soon be a must-have.
Bitcoin, stronger than ever?
The American Bill Miller is considered a legendary investor. His main feat is to have managed to beat the performance of the S&P 500 stock index for 15 consecutive years, from 1991 to 2005, at Legg Mason Capital Management.
In a recent interview with Business Insider, Bill Miller explains that he believes Bitcoin (BTC) is here to stay and has a bright future ahead of him:
„(…) Bitcoin’s resilience is getting better every day. The supply of new Bitcoin in circulation is growing by about 2.5% per year, but demand is growing faster than that. (…) I think the risks of Bitcoin falling to zero are much lower than they have ever been before. »
The current head of investments at Miller Value Partners also explains that the very likely return of inflation, caused by central banks „abusing the money supply“, should support Bitcoin’s destiny.
The most sought-after asset will be Bitcoin.
Although he acknowledges that the king of cryptos still has „high volatility“, he notes that Bitcoin is „the best performing asset class“. Indeed, the BTC share price has risen by more than 110% since the beginning of 2020.
The legendary investor is also among those who believe that the examples of massive investments in Bitcoin by MicroStrategy and Square are just the beginning of a tsunami-like movement:
„I think all the big banks, all the investment banks, all the big high net worth companies, are going to end up exposed to Bitcoin or something like it, gold or other commodities. »
Here again, Bitcoin is perceived as a safe haven, just like the famous golden metal. What is changing is that long-time investment specialists (and therefore coming from traditional finance) seem ready to take one hell of a gamble: What if, despite its volatility, Bitcoin were to establish itself as the reference savings technology in the future?