The Famous Investor Bill Miller Named the Main Advantage of Bitcoin
Legendary American investor Bill Miller drew traders' attention to the fact that Bitcoin has no intrinsic value, but it has many other advantages over fiat. One of the main ones is that it is one of the safest options in the financial world.
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According to an American investor, he still has a significant position in cryptocurrency, even though the main digital currency has lost almost half of its peak price. As mentioned earlier, the maximum price of the cryptocurrency reached $69,000, according to CoinDesk.
The expert drew attention to the idea that bitcoin has no intrinsic value is correct. Interestingly, he even compared BTC to valuable collectibles. In particular, Picasso's paintings.
Bitcoin is an insurance against the financial disaster that we see in Lebanon, Afghanistan, and many other countries where we have seen this during the pandemic, which Bill Miller called the main advantage of money.
According to the investor, a digital coin is like an insurance policy, which also has no intrinsic value. The expert also explained the logic of this system: nobody wants their house to burn down or get into a terrible accident, but people pay for insurance every year.
Miller says that certain statements he made in a January interview with WealthTrack were misunderstood by people. First of all, it is said that he invested half of his personal capital in Bitcoin and other altcoins. The investor denied these rumors and clarified that he had invested only a few percent of his fortune in Bitcoin.
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It should also be noted that Miller's position is shared by billionaires Michael Novogratz and Charles Hoskinson. They recently said digital money could help people in Afghanistan, where the country's economy has plunged into crisis since the government collapsed last year.