Copy link
Increase text size
Decrease text size
Link copied

Bill Miller reveals half of his personal net worth is in Bitcoin and other cryptos

Despite his significant exposure in crypto, Miller suggested that average investors should probably limit their crypto investments to around 1 percent of their portfolios.

Photo by Igor Schubin of Pixabay

Wed, 12 Jan 2022, 04:53 am UTC

Billionaire fund manager Bill Miller is widely known for his track record of consistently beating for years. In a recent interview, the seasoned investor revealed that Bitcoin and other cryptos now represent around 50 percent of his assets.

In a video interview with WealthTrack published on January 8, 2022, Miller revealed that half of his personal net worth is in Bitcoin and other cryptocurrencies. He revealed his started investing in BTC after hearing a talk by Wences Casares in 2014.

“I heard a talk on Bitcoin given by the person who’s known as ‘Patient Zero’ in the Bitcoin world Wences Casares,” Miller said. In his talk, Casares said that his family, who lives in Argentina, has been wiped out four separate times by the government seizing their assets and nationalizing the banks and hyperinflation.

What caught Miller’s interest was Casares’ statement that Bitcoin can’t be touched by the government. “If you have Bitcoin, the government can’t take it away from you,” the billionaire narrated. “Think of it as an insurance policy.”

The billionaire decided to buy some Bitcoin, which was priced at around $200 at that time, and bought more until BTC reached $500 before he stopped buying it for years. He started buying the crypto once more when it fell to around $30,000 last year after previously reaching a high of $66,000.

“There are a lot more people using it now,” Miller explained his renewed interest in Bitcoin. “There’s a lot more money going into it in the venture capital world. There are a lot of people who were skeptics and are now at least trying it out.”

The fund manager noted that while Bitcoin had several crashes in the past that wiped out as much as 80 percent of its value, the crypto always managed to climb back higher each time. “And I thought maybe 50 percent is a good stopping point for it,” he explained his purchase after BTC crashed by around half of its previous all-time high.

Aside from directly buying BTC, the billionaire also made a few Bitcoin-related investments. These include investments in the Bitcoin mining firm Stronghold Digital (SDIG) as well as in the business intelligence firm MicroStrategy (MSTR), which is the top publicly listed company with the largest Bitcoin holdings.

Despite his significant exposure in crypto, Miller suggested that average investors should probably limit their crypto investments to around 1 percent of their portfolios. “If you put 1% of your portfolio in it for diversification, even if it goes to zero, which I think is highly improbable, but of course possible, you can always afford to lose 1%,” he explained.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Joanchris333
  • 2022.01.20 15:53:40
I was depressed some Months ago due to how frustrating it is dealing with bad credits, but reaching out to HACK VANISH via Phone: +1 (747) 293-8514 and Email: HACK VANISH (@) GMAIL. COM gave my life a new meaning, after I found him credible through positive reviews I read on a credit blog, in a twinkle of an eye, this great hacker got my credit score restored from 509 to 784 across the 3 major credit bureaus, all evictions and repossession has been wiped off, my LexisNexis and Chex system fixed respectively, to my greatest surprise, some days later, I received an E-mail confirming the approval of my pending loan application. I can confidently say 2021 was an exceptional year for my husband and I as we are proud owners of a new home and a brand-new SUV courtesy HACK VANISH, I would definitely recommend him to anyone in need of a genuine Hacker.
  • 0
  • ·
  • 0
More
  • Bitcoin (btc) $35,486.00 (-3.57%)
  • Ethereum (eth) $2,445.44 (-6.59%)
  • Tether (usdt) $1.00 (-0.34%)
  • Binance Coin (bnb) $365.28 (-5.75%)
  • USD Coin (usdc) $1.00 (-0.35%)
  • Bitcoin (btc) $35,486.00 (-3.57%)
Jul 15, 2021 (Thursday)
13:30
BTC Surges by 1.16% Within 5 Mins, Marking 31,824.01 USDT
12:06
BTC Surges by 1.12% Within 5 Mins, Marking 32,104.8 USDT
10:25
BTC Drops by 1.03% Within 5 Mins, Marking 32,171.88 USDT
02:13
TriumphX Scouts 'MINAMCOMPANY' CEO Woo-Seong Lee As Creative Director
02:00
ETH Tops List Of Crypto Net Inflow With $298.96 Mln In Past 10 Hours
Jul 14, 2021 (Wednesday)
13:14
BTC Surges by 1.03% Within 5 Mins, Marking 32,738.08 USDT
09:03
BTC Surges by 1.01% Within 5 Mins, Marking 31,899 USDT
02:30
Crypto Market Sentiment On Jul 14: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $224.97 Mln In Past 10 Hours
Jul 13, 2021 (Tuesday)
02:30
Crypto Market Sentiment On Jul 13: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $178.61 Mln In Past 10 Hours
Jul 12, 2021 (Monday)
02:30
Crypto Market Sentiment On Jul 12: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $164.82 Mln In Past 10 Hours
Jul 11, 2021 (Sunday)
21:31
BTC Surges by 1.02% Within 5 Mins, Marking 34,475.6 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $122.76 Mln In Past 18 Hours
06:17
SOBA Listed On LATOKEN
02:30
Crypto Market Sentiment On Jul 11: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $87.56 Mln In Past 10 Hours
Jul 9, 2021 (Friday)
21:40
BTC Surges by 1.08% Within 5 Mins, Marking 33,911.8 USDT
02:30
Crypto Market Sentiment On Jul 09: Market In "Extreme Fear"
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft