Bill Miller's Hedge Fund Sees Bitcoin Having 'Significant Upside Potential' as Digital Gold
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Bill Miller's Hedge Fund Sees Bitcoin Having 'Significant Upside Potential' as Digital Gold

THELOGICALINDIAN - In a address filed with the US Securities and Exchange Commission SEC the armamentarium managers for the Miller Opportunity Trust Bill Millers barrier armamentarium accompaniment that bitcoin has cogent upside abeyant as a anatomy of agenda gold The address capacity that admitting its animation bitcoins riskreward is attractive

Hedge Fund Manager Sees Bitcoin’s ‘Significant Upside Potential’

Miller Value Funds’ semi-annual address for the Miller Opportunity Trust, filed with the U.S. Securities and Exchange Commission (SEC) aftermost week, states:

The Miller Opportunity Trust barrier armamentarium has $2.72 billion in assets beneath administration (AUM) as of July 31. Its portfolio managers are Bill Miller and Samantha McLemore.

“We accept been assemblage of bitcoin for a continued time and during the quarter, the armamentarium accustomed approval to advance in Grayscale Bitcoin Assurance (GBTC), which is an advancing grantor assurance absolutely invested in bitcoin,” the address details. “In the quarter, as bitcoin fell, the assurance traded at one of its beyond discounts to its basal backing in bitcoin accouterment added upside potential.”

As of June 20, the armamentarium holds 1.5 actor shares of Grayscale Bitcoin Trust (GBTC) admired at $44,715,000, the address filed with the SEC shows.

The armamentarium managers added, “With gold’s bazaar assets greater than $11 trillion, bitcoin’s accepted cap abutting to $600 billion would accept a continued way to go to bolt up,” elaborating:

Veteran broker Bill Miller has continued been a bitcoin proponent. In May, back the amount of bitcoin fell from $58K akin to beneath $34K, he said it was “pretty routine.” Miller added that the alteration was “right in band with moves we accept apparent abounding times in bitcoin.” In April, he disagreed with some analysts that bitcoin was in a bubble. Instead, he said bitcoin was entering the mainstream as appeal grew faster than supply.

Do you accede that bitcoin has cogent upside abeyant as agenda gold? Let us apperceive in the comments area below.

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