THELOGICALINDIAN - Investor Bill Miller who has managed billions of dollars account of funds and allocated 1 of his net account to Bitcoin sees accumulated advance as a huge abeyant buy signal
Bill Miller is a acclimatized broker in the boilerplate banking markets, assault the S&P 500 for years. He was advanced of the ambit with Bitcoin, adopting the BTC allocation of a $154 actor armamentarium from 5% to 30% in 2024.
“If aggrandizement picks up, or alike if it doesn’t, and added companies adjudge to alter some baby allocation of their banknote balances into Bitcoin instead of cash, again the accepted about crawl into Bitcoin would become a torrent,” Miller stated yesterday.
Miller argues that companies including Bitcoin as allotment of their antithesis area may decidedly access the bazaar cap, and acceptable the price.
Bill Miller Cites Corporate FOMO
Companies common accept fabricated above investments in Bitcoin, with Microstrategy advance over $1 billion as of aftermost year.
Microstrategy CEO Michael Saylor was afflicted by the U.S. Federal Reserve action of press added money to action the advancing pandemic, inflating the U.S. dollar. Jack Dorsey afresh led Square Inc. to acquirement $50 actor account of Bitcoin for agnate reasons.
Bitcoin afresh anesthetized an best aerial of $35,000, acceptable afflicted by high-profile accumulated investments, amid added factors. BTC is up over 300% compared to aftermost year and 20% in the aftermost anniversary alone.
Mirroring Saylor’s booty on the use case for Bitcoin over the inflating dollar, Miller declared bygone that “Warren Buffett abundantly alleged Bitcoin ‘rat poison,’”
Bill Miller wrote in his post:
“He may able-bodied be right. Bitcoin could be rat poison, and the rat could be cash.”Bi
