Hi HODLers,
Sometimes I just feel like taking profits and go into Stablecoins farms (which I do from time to time) and then when reading the news I see one like today's and I am just like we are still early!
Investor Bill Miller is betting big on Bitcoin, allocating 50% of his personal net worth to BTC and related equity.
Who is Bill Miller?
First, I believe almost none of you know him and that is normal. He is not a singer, crypto star on reality TV star.
Then who is that guy and why do we care?
Bill has just celebrated his 40th anniversary in the investment business.
Today, he currently serves as chief investment officer at Miller Value Partners, a company he founded back in 1999 while working at investment giant Legg Mason.
He manages more than $70bn and has beaten the S&P500 Index for 15 consecutive years. Not bad, right?
How did he join the Bitcoin's crowd?
Miller could almost be considered an OG as he bought Bitcoin back in 2014! Probably earlier than most of you guys. He bought his first ones at $200-$500.
More importantly, he bought more very recently:
“This time I started buying it again at $30,000, down from $66,000 and the reasoning was there’s a lot more people using it, there’s a lot more money coming in from the venture capital world,”
Bill Miller considers Bitcoin to be *an insurance policy against a financial apocalypse. In my opinion he also expects this to be thriving and not just "protect his wealth" as he is allocating up to 50% of his wealth to Bitcoin and related companies.
I will not paraphrase is overall thought but let you read it:
“I think the average investor should ask himself or herself what do you have in your portfolio that has that kind of track record — number one; is very, very underpenetrated; can provide a service of insurance against financial catastrophe that no one else can provide; and can go up ten times or fifty times. The answer is: nothing.”
So this is it, you learned about this new billionaire joining the Bitcoin's train ! This train has almost no empty seat so you better hurry to get on billionaires :D.
Stay safe out there,
Source: Billionaire investor Bill Miller puts 50% of net worth in Bitcoin