Investor Bill Miller made key statements for Bitcoin in a new investor letter that focuses on MicroStrategy, released Thursday.

 

 

Bill Miller “Bitcoin is a tremendous technology.”

The 4th quarter letter stated that Miller Value Partners purchased MicroStrategy’s 0.75% convertible bond and investigated the rationale behind the move. This topic has evolved into a larger study of Bitcoin, and Miller wrote:

Now that we know what Bitcoin is, why would anyone want to own BTC? The short answer is that there is no other entity combining the liquidity of Bitcoin with its positive potential. Bitcoin is still an emerging technology in a tremendously addressable condition.

 

Regulatory outlook in the US is positive

Miller tried to refute some of the criticism of Bitcoin, including the argument that regulators will ban it. On this matter, he argued:

It has worked for twelve years under multiple management with little regulatory intervention. The regulatory outlook for Bitcoin in the US has never been brighter, which may explain why so many institutions are involved.

 

As for the criticism that Bitcoin is “too volatile to be a store of value or a medium of exchange,” Miller said:

In fact, as we’ve pointed out earlier, simply storing it did a much better job than it’s worth. When the volatility of Bitcoin approaches that of Treasures, its market value and price will be extremely high. At this point, it can be thought that Bitcoin has become a more widely used exchange tool.

See Also
What Analysts Say About the Fall in Bitcoin Price?

Investor Bill Miller made key statements for Bitcoin in a new investor letter that focuses on MicroStrategy, released Thursday.

Bill Miller “Bitcoin is a tremendous technology.”

The 4th quarter letter stated that Miller Value Partners purchased MicroStrategy’s 0.75% convertible bond and investigated the rationale behind the move. This topic has evolved into a larger study of Bitcoin, and Miller wrote:

Now that we know what Bitcoin is, why would anyone want to own BTC? The short answer is that there is no other entity combining the liquidity of Bitcoin with its positive potential. Bitcoin is still an emerging technology in a tremendously addressable condition.

 

Regulatory outlook in the US is positive

Miller tried to refute some of the criticism of Bitcoin, including the argument that regulators will ban it. On this matter, he argued:

It has worked for twelve years under multiple management with little regulatory intervention. The regulatory outlook for Bitcoin in the US has never been brighter, which may explain why so many institutions are involved.

As for the criticism that Bitcoin is “too volatile to be a store of value or a medium of exchange,” Miller said:

In fact, as we’ve pointed out earlier, simply storing it did a much better job than it’s worth. When the volatility of Bitcoin approaches that of Treasures, its market value and price will be extremely high. At this point, it can be thought that Bitcoin has become a more widely used exchange tool.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here