Billionaire Bill Miller Voices Support for Bitcoin While Denouncing Alternative Coins
Bill Miller has shared his view on the leading cryptocurrency, Bitcoin, and referred to it as an interesting concept, although he just as quickly down talked alternative coins, referring to them as worthless currencies compared to Bitcoin. He also foresees a possible equivalent of Bitcoin to gold.
During an interview, Bill stated that he has significantly invested in Bitcoin. The average buy-in by him racks up to $300 which has not happened in quite some time. In regards to that matter, he explained that he believes Bitcoin is a truly interesting tech-experiment and an unpredictable one. As of now, the coin is worth around $8k and has reduced its risk severely since its $100 pricing and that even when no changes or climbs by Bitcoin occur, continuous funding is poured into it.
He added that if one coin was purchased by every millionaire in the world, Bitcoin’s price would most likely surge upwards. Additionally, he compared altcoins to Bitcoin, claiming them as useless in comparison.
Bitcoin may possibly reach its all-time high and even bypass that to a new record should more notable and distinguished financial companies and institutions accept cryptocurrency, mainly BTC. Miller suggests that any cryptocurrency investors should expand their portfolios to include crypto and spread out their funds over several assets instead of one. Many investors will probably see the continuous benefits as crypto continues expanding and spreading its roots farther within the global economy and industry.
Currently, the leading cryptocurrency is valued at around $8.2K and a total market cap of $140B. Additionally, many cryptocurrencies from the top leading 20 on the market are poorly operating with negative trading results.
Earlier this year, Bitcoin managed to break its difficult low and rise around 40 percent in price and should the US SEC grant a BTC exchange-traded fund, a possible bull rally will pull the price even higher. Another multi-millionaire Bitcoin bull, possibly one of the most vocal towards the coin, is Mike Novogratz. The billionaire investor has consistently advocated the currency and cemented himself as an all-time bull.