Notable fund manager Bill Miller recently appeared on CNBC saying that every major bank including investment banks and high net worth firms is eventually going to have exposure to Bitcoin. Miller gave the remark in light of the fundamental trends appearing in favor of the cryptocurrency. The net worth of the legendary investor is estimated to be $500 million. Bitcoin Going Only Stronger: Bill Miller An increasing number of major corporations have recently seemed to take notice in Bitcoin including PayPal, MicroStrategy, Square. Miller says that eventually major institutions and investors will own the cryptocurrency too: “I think every major bank, every major investment bank, every major high net worth firm is going to eventually have some exposure to bitcoin or what’s like it.” Miller did note that bitcoin’s price is very volatile, although he believes that the cryptocurrency is only getting stronger and the risks of it “going to zero are much much lower than they’ve ever been before.” Bitcoin’s High Value Comes from its Supply and Demand The investor said that bitcoin has been the “single best-performing asset class” in period including the past year, five-year, and 10-year periods. Miller’s bullish sentiment to Bitcoin comes down to a simple concept its supply and demand: “The bitcoin story is very easy, and it’s supply and demand… Bitcoin’s supply is growing at around 2.5% a year, and the demand is growing faster than that and there’s going to be a fixed number of them. It’s been very volatile, but I think right now it’s staying power gets better every day. I think the risks of bitcoin going to zero are much much lower than they’ve ever been before.” Bill Miller has personally invested in BTC, as his fund. In fact, Bitcoin and Amazon were the two primary assets that drove his fund higher than most other funds.
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