If at the start bitcoin was used to permanently sideline fiathe also gave opportunities to get rich to his hodlers. Or to get even richer like the American investor Bill Miller. Taking a look at her romance with the cryptolighthouse, some analysts believe that BTC hodling is quite beneficial.
Bitcoin, this adventure that Bill Miller will not regret
The bitcoin price was $2,000 a coin when billionaire Bill Miller first bought BTC. Optimistic, even in the midst of the bear market, this Wall Street value investor and hedge fund manager never stopped recommending buying bitcoins.
In a recent article, Captain Altcoin revealed that the “diamond-handed” billionaire held bitcoins for 6 years.
” Billionaire investor Bill Miller reveals he invested 1% of his net worth in Bitcoin, at $2,000 6 years ago.
He is still HODLing today. »
Bill Miller, who is a seasoned investor and very skilled in predictions on the markets, would have seen its assets swell since. Bitcoin has largely contributed to this enrichment.
Here is cryptographer Adam Back’s commentary on this topic:
” I guess it’s not 1% anymore but 10-15%, exposure to bitcoin catches up to you, and then people buy more of a good thing. »
In other words, his initial investment is currently an impressive percentage of his net worth.
Conflicting information
As for the numbers, CoinDesk argued that Bill Miller reportedly invests 50% of his personal wealth in BTC. He revealed this during an interview with WealthTrack in January 2022.
Miller also mentioned his buying bitcoin at $200 a piece in 2014. A presentation by Wences Casares, alias “Patient Zero” of bitcoin, had pushed him to make this choice.
In other words, his hodl bitcoin adventure is not 6 years old, but 9 years old. Pete Rizzo would have got it all wrong, actually.
Bitcoin, this “digital gold”
The fact that bitcoin is limited to 21 million coins allows him this nickname, believes Bill Miller. Thus, he sees no harm in putting 1% of average investors’ net worth into BTC.
” If you invest 1% of your wealth in bitcoin at diversification purposeseven if it drops to zero, which seems highly unlikely to me, but of course possible, you can still afford to lose 1% “, he had advised.
As for his prediction of a massive run by banks and large, high-net-worth corporations into bitcoin, that seems to be coming true right now. With BlackRock, Valkyrie and others who have just landed in the industry, the queen of cryptocurrencies offers a positive image in the financial chessboard.
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