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  • 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

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