Copy link
Increase text size
Decrease text size
Link copied

Bitcoin (BTC) is better than gold as a store of value and it’s just starting to go mainstream, says Bill Miller

longtime value investor Bill Miller believes that there's potential for Bitcoin's to go higher considering that demand for the crypto outrips its supply.

Image by Gerd Altmann from Pixabay

Wed, 21 Apr 2021, 11:01 am UTC

After setting a new all-time high above $64,000 last week, Bitcoin (BTC) suddenly plunged by around 20 percent before stabilizing. The sudden correction spawned speculations that the crypto, which is trading at $55,412 at the time of writing based on Coinmarketcap data, might be a bubble ready to burst.

However, longtime value investor Bill Miller disagrees with such viewpoint and even argued that Bitcoin is just starting to get mainstream. In an interview on CNBC’s “The Exchange,” the investor also said that BTC is even better the gold as a store of value.

With the recent plunge, Miller was asked if he thinks there is still an upside to Bitcoin. “There are many different ways to look at Bitcoin,” the founder and chief investment officer of Miller Value Partners told CNBC. “The simplest one is just supply and demand.”

Miller pointed out that with demand outpacing supply by a large margin, the only way for Bitcoin to go is up. “You mentioned the mainstreaming of it and the institutional acceptance of it,” he explained. “Supply [of bitcoin] is growing 2% a year and demand is growing faster. That’s all you really need to know, and that means it’s going higher.”

He also addressed concerns about the recent drop of around 20 percent to BTC’s price. “It’s going to have these kinds of volatile days,” Miller said. “It was down 20 percent peak to trough over the weekend.”

But such sudden price movement is not unusual to the crypto at all. “Even bank then during the bubble, it went down 20 percent on five different occasions,” Miller explained. “With Bitcoin, volatility is the price you pay for performance.”

Miller also clarified that BTC is not a bubble. “I don’t think this is a bubble at all in Bitcoin,” he added. “I think this is now the beginning of the mainstreaming of it.”

The investor also likened Bitcoin to digital gold, which is better than the actual precious metal. “Gold is about a $10 trillion asset category and bitcoin is $1 trillion, and it’s infinitely divisible or almost so,” he said. “It’s easily transportable and can be sent anywhere in the world if you have a smartphone so it’s a much better version, as a store of value than gold.”

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • christalice
  • 2021.04.30 12:35:52
I have seen and tried different strategies and methods, until I lost a lot of money trying it. It was not until I presented this new strategy that I started up again and managed to recover my lost money and still achieve constant growth in my trade. Mr Oliver Donald is an incredible professional, with vast experience and a deep knowledge of agricultural negotiation, he helps me to accept the financial sanction. I have earned over $54,000 within three months of trading with him. Do not hesitate to contact him because he is a good marketer to invest with when you want to invest in cryptocurrency.

* Invest $ 300 and earn $ 3,000 per week
* Invest $ 600 and earn $ 6,000 per week
* Invest $ 1,000 and earn $ 12,000 per week
* Invest $ 2,500 and earn $ 30,000 per week

all in weekly earnings and 100% guaranteed. (Guaranteed payments) Do not hesitate to contact Mr Oliver Donald if you are interested. email:  [email protected] . com    WhatsApp +1 (720) 466-3701  
  • 0
  • ·
  • 0
More
  • Bitcoin (btc) $58,117.00 (+0.02%)
  • Ethereum (eth) $3,895.82 (+9.19%)
  • Binance Coin (bnb) $637.68 (+0.86%)
  • Dogecoin (doge) $0.537742 (-25.80%)
  • XRP (xrp) $1.50 (-5.55%)
  • Bitcoin (btc) $58,117.00 (+0.02%)
May 9, 2021 (Sunday)
01:44
BTC Surges by 1.01% Within 5 Mins, Marking 59,088.8 USDT
May 8, 2021 (Saturday)
17:10
BTC Surges by 1.04% Within 5 Mins, Marking 58,789.89 USDT
15:58
BTC Drops by 1.13% Within 5 Mins, Marking 57,534.72 USDT
10:00
DOGE Tops List Of Crypto Net Inflow With $1.2 Bln In Past 18 Hours
08:06
Class ZZ Adds SHIB To Swap Section
08:00
BTC Surges by 1.39% Within 5 Mins, Marking 58,528.11 USDT
02:30
Crypto Market Sentiment On May 08: Market In "Greed"
02:00
DOGE Tops List Of Crypto Net Inflow With $1.23 Bln In Past 10 Hours
May 7, 2021 (Friday)
16:12
BTC Surges by 1.06% Within 5 Mins, Marking 57,784.1 USDT
12:39
BTC Surges by 1.15% Within 5 Mins, Marking 57,399.99 USDT
10:00
ETC Tops List Of Crypto Net Inflow With $118.2 Mln In Past 18 Hours
07:34
7 O'Clock Capital Invests $1 Million In Class ZZ
07:30
Element Announces Closing Of $11.5 Million Angel Financing Led By SIG And Dragonfly Capital
02:30
Crypto Market Sentiment On May 07: Market In "Greed"
02:00
DOGE Tops List Of Crypto Net Outflow With $454.16 Mln In Past 10 Hours
00:12
BTC Surges by 1.01% Within 5 Mins, Marking 56,615.7 USDT
May 6, 2021 (Thursday)
18:34
BTC Drops by 1.02% Within 5 Mins, Marking 56,193.33 USDT
10:10
BTC Surges by 1.0% Within 5 Mins, Marking 57,749.9 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $470.93 Mln In Past 18 Hours
02:30
Crypto Market Sentiment On May 06: Market In "Greed"
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft