Crypto: Bill Miller recommends buying bitcoin (BTC) and...

The famous American investor and fund manager, Bill Miller was a special guest at the Forbes SHOOK Top Advisor Summit, which recently took place in Las Vegas, Nevada. The opportunity for him to reiterate his support for the crypto industry, despite the bear market. Bill is one of the biggest crypto optimists. He has already publicly claimed that gold is obsolete and bitcoin (BTC) will take its place. In his intervention, he said that the market currently offers opportunities and urges the community to seize them. What are these opportunities?

Bitcoin (BTC) and stocks

Speaking at the conference, Bill Miller said tackled new developments in the crypto industry. He urged investors to take advantage of a lot of cryptos trading at low prices, to buy some. Thus, he identified bitcoin (BTC) as a promising value for the next few years. He then identified other investment opportunities outside of crypto. These are stocks of companies that have performed poorly this year and whose prices have fallen significantly. For him, the market recovery will be interesting for the growth of these stocks. Overall, these are companies with strong free cash flow trends. But their stock values ​​are trading at discounted prices.

These include Norwegian Cruise Line Holdings, ride-sharing service Uber, Delta Airlines, Clear Secure, Silvergate Capital, and Chesapeake Energy.

The intervention of the investor commented

“The prices of these stocks have fallen significantly. The outlook is such that if your time horizon is longer than a year, you should do very well in the market”, did he declare. A participant drew his attention to the factors of uncertainty hanging over the markets. To this he replied: “Be greedy, when others are fearful”.

Bill Miller criticizes the US Federal Reserve

Later in his speech, Bill Miller criticized the policy of the Federal Reserve throughout the year.

“The central bank has played hard on inflation. It is psychologically behind the realities of the market. It is overreacting to economic data instead of focusing more on real-time or forward-looking indicators (…) Unfortunately, these signs suggest it may be going too far in raising interest rates”he explained.

For him, the institution’s decisions have greatly contributed to affecting the crypto market and the economy in general.

Bill Miller is a crypto advocate and long-time bitcoin (BTC) buyer. He reiterated his optimistic view of the industry, which he called “misunderstood”. Separately, he said that if the Fed tightens monetary policy too much, bitcoin (BTC) is likely to fare better than most of the market.

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential Tremplin.io!

Similar Posts