Investment company Miller Value Partners' head, Bill Miller, has recently expressed his support for Bitcoin, citing it as an effective tool for accessing financial services in military conflicts. According to Miller, Bitcoin serves as a "saving tool" for countries embroiled in conflicts that make it impossible for ordinary citizens to access banking services. He emphasized that Bitcoin can be used by anyone, regardless of the military and economic situation.
When the United States left Afghanistan, money transfers through the payment operator Western Union stopped in the country. But, if the people of Afghanistan could freely use bitcoin, everything would be fine. It can be sent anywhere in the world, there would be a mobile phone,Miller said
Miller pointed out the collapse of the financial infrastructure in Afghanistan as an example of the limitations of traditional banking services in conflict zones. When the United States withdrew from Afghanistan, money transfers through the payment operator Western Union stopped in the country. However, if the people of Afghanistan could freely use Bitcoin, they could still transfer money anywhere in the world using just a mobile phone.
Then, when Bitcoin enthusiasts began to fear rising inflation, Bitcoin "skyrocketed,Miller said
The billionaire also noted that Bitcoin served as a form of insurance for investors during the pandemic. While the US Federal Reserve System (FRS) reduced the money supply to "save" mortgage rates, Bitcoin remained stable without the intervention of anyone.
Furthermore, when Bitcoin enthusiasts began to worry about rising inflation, Bitcoin's value soared, according to Miller. He also asserted that Bitcoin had no signs of a "bubble" and predicted optimistic prospects for its development. Given the significant investments of institutional investors, Miller believes that Bitcoin's exchange rate will never collapse to zero.
Miller's insights on Bitcoin as an effective tool for financial access in conflict zones and as a form of insurance during the pandemic demonstrate the versatility of this cryptocurrency. With the ability to transfer money anywhere in the world using just a mobile phone, Bitcoin presents a promising solution for financial access issues in conflict zones. Its stability and resilience during the pandemic and economic uncertainties also make it an attractive investment option for many. As more people recognize the potential of Bitcoin, it is likely to continue its growth and development as a prominent player in the financial world.
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