Bill Miller Compares Gold and Bitcoin to a Horse and a Ferrari
In today’s post, LATOKEN, a cutting-edge and one of the leading crypto exchanges, wants to share info about one legendary investor who commented on controversial cryptocurrency statements from JPMorgan CEO Jamie Dimon.
What did Bill Miller say about Bitcoin?
Legendary investor Bill Miller compared Bitcoin to Ferrari and gold to a horse during the Forbes / SHOOK Top Advisor Summit. So Miller commented on the controversial statements about crypto made by JPMorgan head Jamie Dimon, restrictive measures against digital assets in China, and the regulatory uncertainty of the crypto industry in the United States.
In one of the recent interviews with Axios, the head of JPMorgan criticized bitcoin and stated that the first cryptocurrency has no intrinsic value. What is more, at the end of September, in an interview with the Times of India, Dimon admitted that bitcoin has the potential to grow tenfold. And in May of this year, Dimon urged investors to stay away from cryptocurrencies.
In July, Miller said that Bitcoin is the best asset to protect against inflation. The investor also agrees with the opinion that the leading cryptocurrency is digital gold since crypto is much more convenient and easier to use than any precious metal.
Bill Miller’s Miller Value Partners fund became one of the best in hedge fund history three years ago (with an incredible return of 119%). Miller started buying BTC a couple of years ago when they cost $300 per one coin. A significant part of the fund’s capital was earned precisely on the growth of Bitcoin’s (BTC) value.
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