Just another one (Billionaire) deep into Crypto!

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Hi HODLers,

Sometimes I just feel like taking profits and go into Stablecoins farms (which I do from time to time) and then when reading the news I see one like today's and I am just like we are still early!

Investor Bill Miller is betting big on Bitcoin, allocating 50% of his personal net worth to BTC and related equity.

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Who is Bill Miller?

First, I believe almost none of you know him and that is normal. He is not a singer, crypto star on reality TV star.

Then who is that guy and why do we care?

Bill has just celebrated his 40th anniversary in the investment business.

Today, he currently serves as chief investment officer at Miller Value Partners, a company he founded back in 1999 while working at investment giant Legg Mason.

He manages more than $70bn and has beaten the S&P500 Index for 15 consecutive years. Not bad, right?

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How did he join the Bitcoin's crowd?

Miller could almost be considered an OG as he bought Bitcoin back in 2014! Probably earlier than most of you guys. He bought his first ones at $200-$500.

More importantly, he bought more very recently:

“This time I started buying it again at $30,000, down from $66,000 and the reasoning was there’s a lot more people using it, there’s a lot more money coming in from the venture capital world,”

Bill Miller considers Bitcoin to be *an insurance policy against a financial apocalypse. In my opinion he also expects this to be thriving and not just "protect his wealth" as he is allocating up to 50% of his wealth to Bitcoin and related companies.

I will not paraphrase is overall thought but let you read it:

“I think the average investor should ask himself or herself what do you have in your portfolio that has that kind of track record — number one; is very, very underpenetrated; can provide a service of insurance against financial catastrophe that no one else can provide; and can go up ten times or fifty times. The answer is: nothing.”

So this is it, you learned about this new billionaire joining the Bitcoin's train ! This train has almost no empty seat so you better hurry to get on billionaires :D.

Stay safe out there,

Source: Billionaire investor Bill Miller puts 50% of net worth in Bitcoin

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13 comments
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👍🏻 Very good news! And 50% of his money into BTC is really skin in the game. 💪🏻
🙋🏼‍♂️ I saw calculations that if only 1% of the global wealth is put into BTC it would rise to 500k and as we see in this example: there is people who invest way more than that.

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(Edited)

Not to mention the lost Bitcoin that you have to account for. But let's be carefull with this calculation as I am not sure it takes into account that many investors would be find owning a "Bitcoin" ETF or some kind of financial product tracking the Bitcoin price.

As an example Gold ETFs/financial products are worth 100X more than the total amount of physical gold out there.

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Yes that’s right but I think a lot of BTC derivatives are bought by investors in a „physical“ variant, meaning the money is really bought into a wallet as BTC.
We will see, am bullish though for the next years. 📈

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That's another (I can't count them anymore) great news that will contribute to build up cryptocurrencies awareness.
Thanks for sharing

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I read about him recently. People like him are an indicator that the bull and bear markets we used to know are a thing of the past.

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Indeed, they invest as they want to be just before all this institutional money pouring in. As they know it can almost only go up ⬆️ after.
The ones deciding to invest this institutional money are their friends. Easy profit.

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