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June 28, 2022
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Bill Miller, Legendary Investor, Injects 50% of Personal Funds into Bitcoin and Altcoins

Famous investor Bill Miller has revealed that he has invested 50% of his personal funds in Bitcoin and various other crypto assets, leveraging his crypto investments.

Legendary Investor Invests 50% of His Funds in Crypto Assets

Miller, founder and chief investment officer at Miller Value Partners, initially invested in the biggest cryptocurrency in 2014, and then started buying it again this past spring amid a surge in interest from venture capital firms.

In a interview recently with Consuelo Mack of WealthRack, Miller said:

I think the medium-sized investor should ask themselves what you have in your portfolio that has this kind of track record, number one; it is very, very little penetrated; it can provide a financial catastrophe insurance service that no one else can provide; and it can go up ten or fifty times.

Miller, who holds the record for beating the S&P 500 index for 15 consecutive years from 1991 to 2005 with Legg Mason Capital Management Value Trust Fund, admitted that his investments in cryptocurrencies go against many tenets of financial discipline, but added that some of the richest people in the US such as Jeff Bezos of Amazon, Mark Zuckerberg of Meta and Warren Buffet of Berkshire Hathaway are also highly focused on their investments.

Explaining his decision to invest so much in cryptocurrencies, Miller referred to a conference at which he heard a speech by Wences Casares, CEO of cryptocurrency wallet Xapo. Casares said investors in unstable economies look to Bitcoin as a means of saving their wealth against hyperinflation, nationalizing banks and governments confiscating their assets, according to Miller.

I bought some in 2014 and bought some more over time, and it was $500. Then I stopped buying. And I didn’t buy it for years, until the spring of 2021. The price hit $66,000 and within four weeks, it was half over, he said.

Per Miller, he started buying Bitcoin again for $30,000, his reasoning being that “there are a lot more people using it, there is a lot more money coming from the venture capital world.”

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