Hedge Fund Specialist Bill Miller: Half of My Investments Are in Bitcoin
Investor Bill Miller announced last week that 50% of MVP1 hedge funds are in Bitcoin.
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Miller Valued Partners‘s president and chief investment officer, Miller said on the podcast WealthTrack on December 13:
“ At this time, I have an investment of around 50%.”
He also stated that he has Bitcoin cash in the funds.. Miller’s introduction to Bitcoin dates back a few years, when he bought shares for approximately $350 in 2013 and 2014.
In October this year, the Wall Street Journal reported that Miller announced that he had invested only 1/3 of his hedge fund, which means he has since decided to increase his stake. According to Miller, at first, only 5% of his fund was allocated to Bitcoin.
Finally, by October, the MVP1 fund was $154 million. He had come to and Miller Value Partners announced in a statement that they had control of an asset worth more than $2 billion as of September.
In his podcast, Miller targeted cryptocurrencies critics. billionaire investor who told them in 2014 that Miller was “wrong” Warren Buffet and Jamie Dimon, CEO of JPMorgan Chase, who earlier this year declared Bitcoin a form of “fraud” was included.
Both of them hadn’t thought about it in detail, according to Miller.
“I can say with confidence that neither of them had studied it carefully.. Despite this, they took a very harsh stance on an issue that they did not fully examine.”
Miller’s comments came after weeks of rising Bitcoin prices, which currently traded at $18,032.
However, minor changes may come to Miller’s Bitcoin-heavy hedge fund.. According to Miller on the podcast, his company is currently looking for ways to try to reduce the amount of cryptocurrencies they hold without selling them.
“I honestly don’t think 50% of the funds will go on like this any longer, but that doesn’t mean it. which we will sell.”
And he added:
“We are currently working on how we can handle this without selling it.”
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