Bill Millers, in his interview with Bloomberg, claims that Bitcoin is the most stable crypto.
The famous American investor Bill Miller is convinced that bitcoin is the best and stable cryptocurrency, which is similar to gold.
Bill Miller Claims Bitcoin Is The Most Stable Crypto
The investor believes that the cryptocurrency market is still in its infancy. Therefore it is difficult to predict its further development. In general, Miller views cryptocurrencies as an interesting technological experiment. According to him, it will be very interesting when “big money” of institutional investors comes to this market.
However, Bill Miller is an obvious bitcoin-maximalist who believes that altcoins are of little use.
“Most of them [cryptocurrencies] are probably worthless. Bitcoin is the most stable of the currencies. I think it has the greatest probability of being successful. There are others that people like, but that’s the only one I’m interested in.”
Miller also believes that Bitcoin is most stable crypto because it is a non-correlated asset , which is similar to gold. However, he notes, the first cryptocurrency has a number of advantages over this precious metal. In particular, Bitcoin is much more transferable and better serves as a means of exchange.
Still, despite the advantages listed above, Miller believes that Bitcoin has not yet become an effective payment system or a vibrant currency. The investor also expressed the opinion that if the bitcoin capitalization had reached at least a third of the total market value of gold, then banks would certainly accept Bitcoin as a reliable asset.
Bill Miller made his first investment in the cryptocurrency back in 2014, investing 1% of its net assets. Now the founder of Miller Value Partners is already far beyond 60 and he calls himself “bitcoin expert”.
Charlie Morris: Bitcoin VS Gold
Earlier this year, an investment expert from Newscape Capital Charlie Morris shared his thoughts on the value of two precious assets: gold and “digital gold.”
Morris finds it incorrect to compare these two assets because of their different characteristics. Bitcoin demonstrates a speculative nature, unlike gold, which has a thousand-year history and has already demonstrated its ability to retain its value for an extremely long time.
“In a strong growth environment, where all is well and speculation is rife, no doubt the audience will be voting for bitcoin. However, in the adverse scenarios, such as inflation, nuclear war, or even socialism, I suspect most of the audience will favor gold over bitcoin,” Morris explained.