Skip to main content

Fund Manager Bill Miller Unfazed by Falling BTC Price, Says Bitcoin Correction Is ‘Pretty Routine’

Fund Manager Bill Miller Unfazed by Falling BTC Price, Says Bitcoin Correction Is 'Pretty Routine'

The founder and chief investment officer of Miller Value Partners, Bill Miller, is not disturbed by the falling price of bitcoin. While acknowledging that the price drop looks extreme when compared to the stock market, he says it is “pretty routine” for the cryptocurrency.


Bill Miller Sees Bitcoin Correction as ‘Pretty Routine’


Veteran investor Bill Miller is the founder of Miller Value Partners and currently serves as the chairman and chief investment officer. He manages Opportunity Equity and Income Strategy funds. Prior to Miller Value Partners, he co-founded Legg Mason Capital Management.


While stating that he does not “comment on normal fluctuations in stock or asset prices,” Miller told CNBC this week:


If I liked something at higher prices, it is a safe bet I will like it even more at lower prices.


Miller continued: “The bitcoin correction, while extreme if it happened to the equity market in such a short period, is right in line with moves we have seen many times in bitcoin.”


if (!window.GrowJs) (function () var s = document.createElement('script'); s.async = true; s.type = 'text/javascript'; s.src = 'https://bitcoinads.growadvertising.com/adserve/app'; var n = document.getElementsByTagName("script")[0]; n.parentNode.insertBefore(s, n); ()); var GrowJs = GrowJs || ; GrowJs.ads = GrowJs.ads || []; GrowJs.ads.push( node: document.currentScript.parentElement, handler: function (node) var banner = GrowJs.createBanner(node, 31, [300, 250], null, []); GrowJs.showBanner(banner.index); );


He added that when he came on CNBC to comment on the market back in March 2020, it was “because that 4-week drop was historic.” In contrast, the fund manager emphasized:


This one in bitcoin is pretty routine.


Miller has long been bullish about bitcoin and his hedge fund has been investing in the cryptocurrency for many years. In April, he said that he did not see the cryptocurrency as a bubble, stating that BTC was entering the mainstream.


In November last year, he predicted that every bank will have exposure to bitcoin. Since then, a growing number of major banks have started offering or are planning to offer bitcoin investments to clients, including Morgan Stanley, Goldman Sachs, DBS, UBS, and Citibank.


What do you think about Bill Miller’s view on bitcoin? Let us know in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Research Shows Centralized Exchanges Saw the Most Visits This Year From Americans, Koreans, Russians

http://motleybloggers.com/wp-content/uploads/2022/12/research-shows-centralized-exchanges-saw-the-most-visits-this-year-from-americans-koreans-russians.jpg Residents of the United States, South Korea and the Russian Federation have been the most frequent users of centralized exchanges this year, according to a new study. The finding comes after the spectacular crash of FTX, one of the largest such platforms, amid tightening regulations and fewer new users. U.S. Leads by Number of CEX Users, Turkey and Japan Are Also in the Top in Terms of Traffic The U.S., South Korea and Russia together account for 22% of all visits to centralized exchanges (CEX) for cryptocurrencies, according to the 2022-2023 “Global Crypto Industry Overview and Trends” annual report produced by Huobi Research. The estimate is based on data from the top 100 CEXs on active users, trading depth, trading volume, and reliability. With a share exceeding 9%, the United States is the pronounced leader in terms...
Post a Comment
Read more

Kevin O’Leary Tells US Lawmakers FTX Failed Because Binance Intentionally Killed It

http://motleybloggers.com/wp-content/uploads/2022/12/kevin-oleary-tells-us-lawmakers-ftx-failed-because-binance-intentionally-killed-it.jpg Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has told U.S. Congress that he believes the collapsed crypto exchange FTX failed because rival Binance intentionally put it out of business. He said former FTX CEO Sam Bankman-Fried (SBF) told him that Binance, which owned a 20% equity stake in FTX, refused to comply with regulators’ requests whenever FTX applied for a license in different jurisdictions. Kevin O’Leary Shares Why He Thinks FTX Failed With U.S. Senators Shark Tank star Kevin O’Leary shared why he thinks crypto exchange FTX collapsed in a congressional hearing, titled “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers,” before the Senate Committee on Banking, Housing, and Urban Affairs on Wednesday. Senator Pat Toomey (R-PA) asked O’Leary, “Why do you believe FTX failed?...
Post a Comment
Read more

Cardano MACRO REVERSAL Draws Near | XRP Prediction (Watch CLOSELY!)

http://img.youtube.com/vi/TWi-b9uRBdo/0.jpg https://www.youtube.com/watch?v=TWi-b9uRBdo Rumors swirl surrounding thr Ripple SEC case and xrp predictions also come into play. Cardano has been in a massive downtrend on the ADA charts, and momentum as it applies to physics might be the best picture we have into what is in store for ADA price. JOIN Crypto Capital Venture EXCLUSIVE Content ⚡⚡https://cryptocapitalventure.substack.com⚡⚡ 🟩 Bitcoin 4 Year Cycle Prediction - This May Change Your Mind On BTC https://youtu.be/IsKI359lAbQ Get Great Deal On TradingView subscription (the charts I use) USE MY LINK! - https://www.tradingview.com/?aff_id=114269 Follow me on my new Instagram ➡️ https://instagram.com/theofficialccv ⚡ Catch Me On Twitter ⚡ http://twitter.com/cryptorecruitr ⬇How To Stake Your Cardano In Minutes With Crypto Capital Venture!⬇ Stake Your ADA With Ticker: CCV1 ➡ https://youtu.be/cikJiJgRZFQ Crypto Cap...
Post a Comment
Read more