Business Executive May Soon Reap The Benefits On Bitcoin Investment

In General, Investments
Bitcoin

The development of technology and the approval of major businesses paved the way for digital currency to remain as a hot commodity in the financial sector.

This was proven true by one major investor. If you were this bigshot business owner or a business executive, would take your financial investment to the next level? Well, that is a question that most people ask themselves when faced with a financial investment question.

Most of the time, we solidify our financial decisions where we feel secure and where think our money would grow. However, this business executive made a seemingly tough, but smart decision.


30% of Bill Miller’s Hedge Fund Is Invested in Bitcoin

The Share of Bill Miller’s Hedge Funds’ Assets Invested in Bitcoin Has Gone From 5% to 30% in Just 12 Months

30% of Bill Miller's Hedge Fund Is Invested in BitcoinIn a recent interview with The Wall Street Journal, Bill Miller has revealed that roughly 30% of the assets in Miller Value Partners LLC’s $154 million USD MVP 1 hedge fund is invested in bitcoin. The share of the fund’s total that is represented by bitcoin holdings has significantly increased following bitcoin’s price gains of approximately 600% this year – as bitcoin represented just 5% of MVP 1’s assets in 2016. Mr. Miller states that the MVP 1 hedge fund has gained in value by approximately 72.5% so far during 2017.

In a letter sent to investors last week, Mr. Miller estimated that the average price paid for the fund’s bitcoins was approximately $350 USD per coin. Although Mr. Miller has stated that the fund will not purchase any additional bitcoin at current prices, he is reported to have said that he would be willing to “put 1% of [his] liquid net worth” into bitcoin if he were not privately exposed to the bitcoin markets.

Mr. Miller First Invested in Bitcoin During 2014

30% of Bill Miller's Hedge Fund Is Invested in BitcoinMr. Miller’s letter presents a balanced and impartial outlook for bitcoin’s future, describing bitcoin as “a technological experiment that may or may not prove to have any long lasting value.” Mr. Miller states “Bitcoin has a market capitalization greater than 90% of the companies in the S&P 500, but it still might fail. I don’t know and neither does anyone else, no matter how certain they are of their opinion… I believe there is still a nontrivial chance bitcoin goes to zero, but each day it does not, that chance declines as more venture capital flows into the bitcoin ecosystem and more people become familiar with bitcoin and buy it.”

In Mr. Miller’s letter, he notes that a “Murderers’ Row” of prominent investors have been predicting an imminent popping of the bitcoin ‘bubble’., including Warren Buffett, Jamie Dimon, and Howard Marks. In an interview 2014 with CNBC, Mr. Miller rejected Warren Buffett’s then-recent criticisms of bitcoin, stating “if [bitcoin] becomes only 10 percent as popular gold, then it’s an 800 billion market value.”

In June of this year, Mr. Miller described bitcoin as a “true disruptor and true innovation in money.”

 

Via News Bitcoin


You may also read!

Blockchain Technology

American Multinational Retail Company Goes For Blockchain Technology

Even big companies are now warming to the idea of integrating blockchain technology, the powerful technology behind Bitcoin. One

Read More...
European Privacy Rules

Legit Proof That The European Privacy Rules Exempt No One

Even the church is not spared from the European Union’s General Data Protection Regulation. You could see them walking

Read More...
Global Movement

Global Movement Aims To Develop Data Security Capabilities

With the issues of the data breach circling the globe, a global movement initiated by different countries and organizations,

Read More...

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu