Billionaire Bill Miller advocates Bitcoin but is skeptical of altcoins

Bill Miller is an experienced Wall Street investor and the founder of Miller Value Partners. promote In order to rise Bitcoin (Bitcoin) In a recent conversation with writer William Green, but expressed doubts about many altcoins that were born in 2017.

Miller agrees with the well-documented argument that Bitcoin portrays digital gold, unlike many of his financial contemporaries— Warren Buffett is the most prominent -He has always been an enthusiastic investor in the field of digital assets.

As early as 2016, Miller Invested 30% of his portfolio Bitcoin, the leading crypto asset with an average value of $500, recently documentFile a motion with the U.S. Securities and Exchange Commission Miller Opportunity Trust invests in BTC through an institution-level Grayscale Bitcoin Trust worth US$2.25 billion.

In the interview, Miller linked his first acquisition of Bitcoin to the current risk propositions he witnessed today, while wearing a Bitcoin baseball cap all the time:

“Bitcoin’s risk of $43,000 is much smaller than that of $300. It is now established, with a large amount of venture capital invested in it, and all major banks are involved.”

Miller also shared his views on the potential of altcoins, implying that thousands of projects on the market rarely survive the market turmoil of the next few years:

“There are 10,000 different tokens and things floating there. The chances that more than a few people are worthy are very, very small. Bitcoin, Ethereum and others may exist for a while.”

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When discussing the emerging impact of the cryptocurrency exchange Coinbase, Miller advised investors not to be cautious about the one to two year fluctuations of the NASDAQ-listed COIN, because in his reservations, the asset provides “growth” The default position of the type investor”.

In addition, he also compared the market value of electric car giants Tesla and Coinbase, and believes that the exchange may reach or exceed the valuation of the former, and the latter’s valuation is about US$790 billion, because it is in a “rapidly growing and changing market”. industry”. . “