When making investments it is always convenient to know exactly where we put our money and what certain experts who have been able to get rich think, and with Bitcoin there are a number of investors who have been able to catapult their fortune by investing at the right time and selling when the digital currency was making all-time highs.
And one of the most recognized Wall Street legends, the investor Bill Miller, assures that having an investment in Bitcoin “is like insurance against a financial calamity” , and yet he still maintains an important position in the cryptocurrency that could bring him much more fortune in the coming months if Bitcoin continues to increase in value.
Although the investor clarifies that Bitcoin does not have a value intrinsic, it does compare this digital asset to high-value collectibles such as a Picasso painting.
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However, in statements to CNBC, he points out that “Bitcoin is like an insurance policy”, specifically “it is insurance against a financial catastrophe like the one we see in Lebanon or in Afghanistan, and for many other countries where the worst time of the pandemic was experienced”.
Miller also wanted to clarify one of the comments he made to Wealth Trak in January, where his words were misunderstood.
He clarifies that at that time it was said that he had invested half of his fortune in Bitcoin, but in reality this is not the case. He clarifies that he had put “only a small percentage of his net worth in Bitcoin”, but that later the digital currency grew so much that it became half of his total fortune. .
While Bitcoin is currently around 35% below its peak prices reached last November, it is in good health.
Although the cryptocurrency market has experienced a rather complicated month of January due to lower confidence in risky assets and the aggressive stance of the Federal Reserve, yes, the market has improved slightly so far in February.