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Bill Miller: there is no reason to call Bitcoin a bubble

Thursday, 22 April 2021

Billionaire Bill Miller, who has previously spoken out in favor of cryptocurrencies, said that he sees no signs of a "bubble" in Bitcoin and expects the rate of the first cryptocurrency to continue to rise. During an interview on CNBC's "The Exchange", Miller noted that despite the recent rally in BTC and the subsequent pullback, demand for the first cryptocurrency is outstripping supply.

"I don't think Bitcoin can be called a bubble to any extent. We see the beginning of universal adoption of the first cryptocurrency. The number of BTC coins is growing by 2% per year, but the demand for Bitcoin is growing much faster. And this fact alone should be enough to realize that the Bitcoin rate will grow,"
said Bill Miller.

Bill Miller says #Bitcoin is like digital gold...and while demand is booming, the price is volatility@KellyCNBC @CNBC #BTC #crypto pic.twitter.com/FIqJBHsW1f
— The Exchange (@CNBCTheExchange) April 20, 2021

As for the noticeable falls in the Bitcoin rate, this is a natural process - increased volatility is the price to pay for significant growth and huge profits for investors. And many investors believe that Bitcoin is much better suited for accumulating and storing wealth than gold. Back in late January 2021, Miller called Bitcoin the only asset in the world with such growth potential and liquidity. At the end of 2020, the billionaire's company Miller Valet Partners invested in the bonds of Microstrategy, known for its investments in Bitcoin.

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