American investor and fund manager Bill Miller shared in a recent WealthTrack interview that Bitcoin (BTC) makes up half of his portfolio. In addition, the experienced analyst, who says that the gold supply will be greatly increased after $ 18,000, thinks that this will create a perception of “insurance” in Bitcoin. Details Cryptocoin. com
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Bill Miller shares Bitcoin cost
The 40-year veteran investor opposes Berkshire Hathaway CEO Warren Buffett’s claims that “Bitcoin is 0 in value”, claiming that Bitcoin is the only economic asset that is not affected by inflation. He even shares that he started buying Bitcoin again at $30,000.
Gold supply could be increased after $18,000
Referring to gold after Bitcoin, Miller explains that if the precious metal hits $18,000, its supply will increase massively because miners will be encouraged to extract more. In part of the interview, the veteran investor describes himself as a “Bitcoin watcher,” comparing cryptocurrency development to that of the printing press and steam engine. According to Miller, Bitcoin can act as insurance should governments decide to seize the gold supply. Miller points out that the precious metal has yielded negative returns in the last 10 years, while “digital gold” Bitcoin has outperformed almost every other asset in the world in the last 10 years. On the other hand, hedge fund manager Ray Dalio said in his recent statements that Bitcoin can be banned just like gold.