As reported by coindesk.com on November 07.2020, Bill Miller told CNBC that the risks of bitcoin going to zero are lower than they’ve ever been before, and predicted more institutional investment in the cryptocurrency.
William H. Miller is an American investor, fund manager, and philanthropist. He’s now the chief investment officer of Miller Value Partners.
The bitcoin (BTC, -2.07%) story is very easy, it’s supply and demand, Miller mentioned. Bitcoin’s supply is growing around 2.5% a year and the demand is growing faster than that.
Miller warned of inflation coming back with the Federal Reserve gunning the money supply and future fiscal relief coming from Congress. Miller stated that every major investment bank and high net worth firm will eventually have exposure to bitcoin or commodities like gold. He added that bitcoin has performed well over the past three-, five- and 10-year periods