Bill Miller Has Invested 50% of His Net Worth In Crypto
William H. Miller III or better known as Bill Miller is an American fund manager and philanthropist known for managing the fund of Legg Mason Capital Management. The billionaire is known to invest wisely in stocks known for his philosophy that any stock is a value stock with the right circumstances. Miller has turned his eye to Bitcoin as he invests his money into the cryptocurrency.
Billionaire Bill Miller Becomes a Bitcoin Investor
Bitcoin has received a huge sum of money just now thanks to the investment of the Billionaire Bill Miller. Miller has just allocated half of his total and personal network to the cryptocurrency Bitcoin and other related equities to the cryptocurrency.
Miller states that Bitcoin is in a bullish state despite the latest news of the cryptocurrency. For those who don’t know, at the start of this year Bitcoin has been taking a lot of hits even going down $40,000 which shocked a lot of cryptocurrency traders and investors.
The billionaire states he doesn’t’ consider himself a Bitcoin observer but as an actual investor in the cryptocurrency. Now whether or not he made the right choice remains to be seen.
Why Did He Invest in Bitcoin?
Bill Miller bought his first Bitcoin back in 2012 and he was watching its progress over time. He simply observed and investigated and did not touch the cryptocurrency for quite a while until 2021 when Bitcoin went down to the $30,000 mark.
The reason why he’s investing in Bitcoin was that he was looking for an insurance policy in case of financial emergencies. Investing in the right things can yield amazing results and due to the scarcity of Bitcoin, it can make a profit considering that the cryptocurrency has a supply limit of 21 million.
Miller advises other investors to at least put 1% of their money and assets in Bitcoin since the market is very underpenetrated which can provide up to ten or even fifty times the ROI thanks to multiple conditions such as the overall circulating supply and value that the cryptocurrency provides.
Spending almost half your fortune on Bitcoin might sound crazy but Bill Miller is known to make good investments and he is an expert at managing funds. He could be making a crazy bet but who knows how the mind of a billionaire investor works?
* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.