Bill Miller, the famous American investor is convinced that bitcoin is the best and stable cryptocurrency on the crypto market at the moment.
Many of its characteristics are in the favor of its comparison with gold.
The investor believes that the digital currency market is still emerging and it is therefore difficult to predict its further development. In general, Miller views cryptocurrencies as an interesting technological experiment. According to him, it will be very interesting when “big money” of institutional investors comes to this market.
However, Bill Miller is an obvious bitcoin-maximalist who believes that altcoins are of little use.
“Most of them (cryptocurrencies) probably does not do any good. Bitcoin is one of the most stable cryptocurrency. I think he has many chances to be successful, ” the investor shared his opinion.
Miller also believes that bitcoin is good because it is a non-revertible asset, which in many respects is similar to gold. However, he notes, the first cryptocurrency has a number of advantages over this precious metal. In particular, bitcoin is much more transportable and better serves as a means of exchange.
And yet, despite the advantages listed, Miller believes that bitcoin has not yet become an effective payment system or a viable currency. The investor also expressed the opinion that if the bitcoin capitalization had reached at least a third of the total market value of gold, then banks would certainly consider the cryptocurrency as a reliable asset.
The first investment in the cryptocurrency Bill Miller made back in 2014, investing 1% of its net assets. Now the founder of Miller Value Partners is already far beyond 60 and he calls himself “bitcoin expert”.