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Billionaire Bill Miller remains bullish on Bitcoin despite the ongoing crash

                                                            Der alte amerikanische Investor Bill Miller gab bekannt, dass er einige „flüssige Sachen“ verkauft hat, um Nachschussforderungen zu erfüllen, da Bitcoin einer dieser Vermögenswerte sein könnte.  Der Milliardär bleibt jedoch ein begeisterter Befürworter der primären Cryptowährung und beschreibt sie als „Versicherung gegen Finanzkatastrophen“.

Don’t change his attitude

US investor, fund manager and philanthropist Bill Miller is considered one of the most popular Bitcoin supporters. He has continued to strengthen his stance during the COVID-19 outbreak and the controversial fiscal policies that many banking institutions have implemented. At the time, he argued that Bitcoin was valuable because “it cannot be touched by the government.”

Earlier this year, Miller admitted to having 50% of his portfolio invested in BTC. He further revealed that his first purchase was made seven years ago when the asset was trading at around $200. However, he rallied the most during last summer’s crypto crash when Bitcoin was at $30,000.

In a recent interview for CNBC, the American reiterated his position, saying he doesn’t understand investors who don’t diversify their portfolios with the leading cryptocurrency. Furthermore, he said he is not concerned about the ongoing market decline as he has experienced similar turbulence before:

“I’ve been through at least three drops of 80%+. I own it as an insurance policy against financial disasters […] I haven’t heard a good argument why anyone shouldn’t invest at least 1% of their liquid net worth in Bitcoin.”
Billionaire Bill Miller remains bullish on Bitcoin despite the ongoing crash, Crypto Trading NewsBill Miller, CNBC
When asked if he recently sold some of his BTC stash, Miller said, “The short answer is no.” Nonetheless, the investor had to trade some of his “liquid stuff” to meet margin calls.

our recommendation Billionaire Bill Miller remains bullish on Bitcoin despite the ongoing crash, Crypto Trading News

A margin call occurs when the value of securities in a brokerage account falls below a certain level. At this point, the account holder must either deposit additional funds or sell some of the assets to meet the requirements. Considering bitcoin is considered “liquid stuff,” it may have accounted for some of the sales.

BTC is a safe bet, especially at lower prices

Nearly a year ago, Miller opined that if its USD valuation plummets, traders should view the digital asset as a tempting investment option:

“If I liked something at higher prices, it’s a safe bet I’ll like it even more at lower prices.”

His comments came at a time when BTC crashed to around $30,000. Currently, the cryptocurrency is trading at almost the same price, which makes his opinion quite relevant to the real-time situation.

Source: Crypto News Deutsch

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