Bill Miller: Institutional Trickle Into Bitcoin Could Become A Torrent

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Bill Miller fund manager

Bill Miller: Institutional Trickle Into Bitcoin Could Become A Torrent

Famed Fund Manager Bill Miller says the institutional money trickling into Bitcoin could become a torrent if inflation picks up.

Miller Value Partners founder, Bill Miller was writing in his Q4 2020, Market Letter, saying because of the Fed’s inflationary policy companies holding cash were generating ‘guaranteed losses.’

‘The Fed is pursuing a policy whose objective is to have investments in cash lose money in real terms for the foreseeable future,’ said Miller.

‘If inflation picks up, or even if it doesn’t, and more companies decide to diversify some small portion of their cash balances into Bitcoin instead of cash, then the current relative trickle into Bitcoin would become a torrent.’

The trickle of institutional money could get torrential

Bitcoin on Corporate Balance Sheets

The legendary fund manager referenced the likes of MicroStrategy, MassMutual and Square to support his assertions about the demand for Bitcoin as an opt-out of the inflation infested fiat world.

These companies ‘have moved cash into Bitcoin rather than have guaranteed losses on cash held on their balance sheet,’ explained Miller.

Miller also drew lightly on Bitcoin vs gold debate, explaining how Bitcoin is best thought of as digital gold, at this stage, but the fund manager also says Bitcoin has ‘many advantages over the yellow metal.’



Bill Miller – A Bitcoin Bull With a Voice

Bill Miller has been into Bitcoin since 2013, and once called it an ‘insurance policy against inflation.

The legendary value investor is highly respected in the financial world after beating the S&P 500 for 15 straight years. A benchmark no other active money manager has achieved, and when he speaks high net worth individuals pay attention.

The Miller Value Partners founder referenced Bitcoin’s performance since its market inception, explaining how it had ‘outperformed all major asset classes’ over pretty much every time frame in the last decade.

Miller also alluded to two of Bitcoin’s greatest adversaries Jamie Dimon and Warren Buffet in his notes, highlighting the market cap of Bitcoin had exceeded both their companies.

Bill Miller is a Bitcoin Bull

‘[Bitcoin’s] market capitalization is greater than JP Morgan and greater than Berkshire Hathaway and yet it is still very early in its adoption cycle,’ explained Miller.

‘Warren Buffett famously called bitcoin “rat poison.” He may well be right. Bitcoin could be rat poison, and the rat could be cash.’

When Bill Miller Speaks Money Men Pay Attention

Along with Paul Tudor Jones and Stanley Druckenmiller, Bill Miller is one of the voices everyone all of Wall Street listens to.

The legendary fund manager has been bullish on Bitcoin for a while now, but with the state of the global economy, and the Federal Reserve’s inflationary policy, Miller has probably never been more bullish.

His readership will be well attuned to Miller’s big picture focus and belief in Bitcoin, but as Fed’s printing press opens the floodgates again soon, the trickle of institutional money coming in might just turn torrential.

Author: Tommy Limpitlaw


Bitcoin FAQs

Why should I buy Bitcoin?

Bitcoin is a peer-to-peer money that nobody can manipulate. It’s all set in the Bitcoin codebase which is secured by hundreds of thousands of computers all around the world. Bitcoins can be sent by anybody and no third party is need to verify the transactions, and nobody can stop Bitcoins being sent

Where can I earn free Bitcoin?

Nothing is really free, because even when you earn free Bitcoins you’re giving up your time, which is precious. But you can earn free Bitcoins. If you are a gamer, there are games like Bitcoin Bounty Hunt where you shoot your way to Bitcoin riches. Or there’s Carrot – a platform where you can earn free Bitcoin for doing tasks. Or you can save your Bitcoin in an interest bearing account and earn some Bitcoin interest. Be careful with interest bearing accounts, and only go with legitimate companies, though. I recommend Blockfi, you can read the review here.

How can I buy Bitcoin in Germany?

There are many exchanges operating in Germany. However, the most recommended exchanges are Kraken or Blockfi. Or you can buy Bitcoin from Bitcoin marketplaces, such as LocalBitcoins or Paxful. All of these exchanges and marketplaces are global with high liquidity and excellent customer service. Feel free to read the reviews of each one.

Can you buy less than 1 Bitcoin?

Yes. Every Bitcoin can broken down into 100 million bits. They are known as satoshis, after the pseudonymous creator Satoshi Nakamoto. And some companies will let you buy as little as $1 worth of Bitcoin, which at time of writing is worth about 11,000 satoshis. There are many companies that have a system for dollar cost averaging (DCA). This is a great way to buy Bitcoin, and is known in the space as ‘Stacking Sats’. Basically, what you do is set up small automatic, recurring payments to buy Bitcoin (or sats), and you DCA over time.

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