Bitcoin’s popularity is growing, and more i9nvestros are flocking into the crypto market these days. Institutional investors are the ones who are powering Bitcoin’s 2021 bull run, compared to 2017.
It’s been just revealed that the popular investor and co-founder of Miller Value Partners, Bill Miller said that owning a portfolio without Bitcoin is a big mistake.
During his Q4 2020 letter on income strategy, Miller managed to showcase Bitcoin’s benefits to his readers.
He even said that not owning Bitcoin in the past and going forward is a miscalculation. He said that despite Bitcoin’s volatility and other possible downsides, the trend shows that BTC is an asset that is facing consistently increasing demand.
“Bitcoin has been the best performing asset over eight of the past ten calendar years, and its annualized performance has blown away the next-best performer, the Nasdaq, by a factor of ten over the past decade. Not owning any Bitcoin has been a massive mistake, and we expect that will continue to be true,” he said.
He continued and pointed you o the fact that “A long-term candlestick chart shows progressively higher lows despite significant volatility, clearly representing growing demand from long-term holders willing to tolerate the swings.”
Check out the original article posted by the Daily Hodl in order to learn what more he had to say.
More bullish predictions about Bitcoin are popping up
There are a lot of optimistic predictions about the price of Bitcoin these days, and most of them are bullish.
At the moment of writing this article, BTC is trading in the green, and the coin is priced at $32,760.35.
Now, it’s been just reported that Morgan Creek Digital’s Anthony Pompliano is mapping out a scenario in which Bitcoin is hitting $1 million.
He just said that his 2021 Bitcoin price prediction remains the same.