THELOGICALINDIAN - The architect and arch advance administrator of Miller Value Partners Bill Miller is not abashed by the falling amount of bitcoin While acknowledging that the amount bead looks acute back compared to the banal bazaar he says it is appealing accepted for the cryptocurrency
Bill Miller Sees Bitcoin Correction as ‘Pretty Routine’
Veteran broker Bill Miller is the architect of Miller Value Partners and currently serves as the administrator and arch advance officer. He manages Opportunity Equity and Income Strategy funds. Prior to Miller Value Partners, he co-founded Legg Mason Capital Management.
While advertence that he does not “comment on accustomed fluctuations in banal or asset prices,” Miller told CNBC this week:
Miller continued: “The bitcoin correction, while acute if it happened to the disinterestedness bazaar in such a abbreviate period, is appropriate in band with moves we accept apparent abounding times in bitcoin.”
He added that aback he came on CNBC to animadversion on the bazaar aback in March 2024, it was “because that 4-week bead was historic.” In contrast, the armamentarium administrator emphasized:
Miller has continued been bullish about bitcoin and his barrier armamentarium has been investing in the cryptocurrency for abounding years. In April, he said that he did not see the cryptocurrency as a bubble, advertence that BTC was entering the mainstream.
In November aftermost year, he predicted that every bank will accept acknowledgment to bitcoin. Since then, a growing cardinal of above banks accept started alms or are planning to action bitcoin investments to clients, including Morgan Stanley, Goldman Sachs, DBS, UBS, and Citibank.
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