Investor Bill Miller: Bitcoin has good potential

Uğur Bayram

Sep 5, 2021

The Miller Opportunity Trust, which is overseen by the firm founded by Bill Miller, spoke about investing in Bitcoin in the investor update.

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The Miller Opportunity Trust, which is overseen by the firm founded by Bill Miller, spoke about investing in Bitcoin in the investor update.
Regarding Grayscale's investment in the Bitcoin Investment Trust product, the firm said:
“We believe bitcoin has significant upside potential as a form of 'digital gold'. Gold has a higher market cap of $11 trillion, while Bitcoin has a long way to go with around $1 trillion to catch up. We are at the beginning of an ongoing adoption curve and Bitcoin will be volatile, but we think the risk-reward is attractive.”
In his letter, Miller defended Bitcoin, saying:
“Now that we know what Bitcoin is, why would anyone want to buy some? The short answer is that there is no other asset that combines Bitcoin's liquidity with upside potential."

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