The famous Wall Street investor Bill Miller, according to a recent report in the Wall Street Journal, has a bullish 30 percent share of its assets in Bitcoin, based on a letter to investors. The letter made it clear that Miller’s fund invested 30 percent in Bitcoin early in 2016, as Bitcoin prices accounted for only a fraction of the current level.
The Miller Fund rose by more than 70 percent for years, exceeding even the publicly known hedge funds like Dan Loeb’s Third Point LLC, which made only 14 percent gains compared to the previous year.
Miller had already indicated that at the beginning of 2016, a percentage of his personal net worth invested in Bitcoin what Wall Street professionals like Dimon, Fink and Buffet, have rejected Bitcoin as a bubble or fraud, causing notice. Miller, however, remains undeveloped and is generally known as an outstanding judge. Miller does not necessarily see Bitcoin bullish, but sees it as an option and says:
“I think it’s still bringing, but every day reduces the chance as more venture capital flows into Bitcoin’s ecosystem and more people become confident with Bitcoin and buy it a nontrivial chance of Bitcoin to zero.”