Strong Bitcoin Investment Case Revealed By Wall Street Legend Bill Miller
Bitcoin has been gaining more and more popularity these days, and more people see the digital asset as a safe haven.
The crypto space has the important goal of achieving mainstream adoption of digital assets, and there have been a lot of moves made in this direction.
Bitcoin is labelled as the single best-performing asset in multiple time periods
Now, it’s been revealed that investing legend and co-founder of Miller Value Partners Bill Miller offers now a powerful investment case for Bitcoin (BTC), and he labelled it it “the single best-performing asset in multiple time periods.”
During a CNBC interview, the executive of the long-term investment management firm said that the demand for Bitcoin is significantly outpacing supply.
“The Bitcoin story is very easy, it’s supply-demand. It’s economics not 101, but .01 which is Bitcoin’s supply is growing around 2.5% a year, and the demand is growing faster than that, and there’s going to be a fixed number of them,” he explained.
It’s been also revealed that Miller is expecting Bitcoin to remain volatile and he also made sure to point out the fact that BTC is here to stay.
“It’s been very volatile, but I think right now its staying power gets better every day. I think the risks of Bitcoin going to zero are much, much lower than they’ve ever been before,” he said as cited by the Daily Hodl.
Big players are entering the crypto space
There have been massive moves made towards the mass adoption of BTC this year.
For instance, publicly traded companies such as MicroStrategy and Square have made multi-million-dollar bets on BTC.
Not to mention the fact that financial giant PayPal also hopped in the crypto wagon recently supporting BTC and other digital assets.
Miller is expecting to see more relevant players entering the world of crypto.
“I think every major bank, every major investment bank, every major high-net-worth firm is going to eventually have some exposure to Bitcoin or what’s like it, which is gold or some kind of commodities.”
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.