Bill Miller is a highly respected billionaire investor who did invest in Bitcoin in the past through his funds and businesses. In fact, the market-beating manager is bullish on Bitcoin and trusts so much in it that half of all his personal assets are now put into the crypto. The news was revealed through a Wealth Track video interview.

Miller managed to gain his fame in the investments world as he broke the record for beating the S&P 500 index between 1991 and 2005. He was working at Legg Mason as the fund manager then. He also caught the news because in the funds he managed, he heavily invested in Bitcoin. However, his personal portfolio was not mentioned and the news is new.

According to Miller, he started being interested in and buying BTC in 2014 at the price of $200. He did this because of a conversation he heard of Wences Casares at a tech and media conference in Sun Valley.

As time passed, the investor kept buying Bitcoin. However, he stopped for a long time, until last year. He saw the price hitting really unexpected new highs. Then, he noticed the sharp fall. This, in his mind, meant it was a perfect time to buy since buying the dip looked like a good option. He bought at the price of $30,000, which was lower than the $69,000 high. His reasoning was that many people were using Bitcoin and that venture capitalists started to be interested.

Bill Miller did reveal that part of the personal BTC investments he has were put in firms connected to prices, like SDIG (Stronghold Digital), a bitcoin miner, and MSTR (MicroSTrategy), a software company holding billions of dollars on the balance sheet as bitcoin.

The investor claims that Bitcoin is looked by him as being digital gold that has a limited supply. He only now allowed himself to start working on the Bitcoin Bull run instead of just observing. This is because he believed the technology has advanced at a level that is truly developed.

Miller does have a concentrated position but he still recommends that the average person interested in making investments should only put up to 1% of the net worth in the cryptocurrency. The reasoning for this is that you do it for diversification purposes. And you do not really care if BTC loses money.

Bitcoin is a clearly unique investment and you want to listen to him saying:

“I think the average investor should ask himself or herself, what do you have in your portfolio that has that kind of track record – number one, is very, very under-penetrated; can provide a service of insurance against financial catastrophe that no one else can provide and can go up 10 times or 50 times? The answer is: nothing.”

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