Many people are worried about the future of the cryptocurrency market due to the ongoing bear market wave that has swept digital assets across the board.
Some investors even believe that the Crypto Winter has arrived quite early this year. Meanwhile, there are still several staunch believers of Bitcoin who are bullish on the flagship cryptocurrency despite all the chaos and fear.
Bill Miller, a well-known American investor, billionaire, and philanthropist, is among the Bitcoin bhaktas. He admittedly sold a small portion of his Bitcoin reserves but at the same time professed his bullish stance on Bitcoin.
As per Miller, the selling of BTC holdings was done to address the margin calls keeping in view the intrinsic nature of the top coin as an asset class. Miller also shared several important aspects of Bitcoin that make it a fruitful financial investment.
Bitcoin as Ultimate Insurance Policy
Miller pointed out several underlying aspects of Bitcoin that make it a reliable asset class. During an interview with CNBC, Miller claimed that he counts himself among the biggest Bitcoin supporters.
He told the media that around 50% of his portfolio comprised Bitcoin and claimed that his first encounter with the cryptocurrency happened 7 years ago.
Bill has aired his support for Bitcoin many times before. Since the COVID social interaction restrictions, he started to talk about the financial merits of cryptocurrencies like Bitcoin over the traditional and centralized financial network.
He even went on record to claim that the government could not reach his financial prospects due to its high dependence on Bitcoin.
Miller told CNBC that he has studied and acquired Bitcoin for several years now. He claimed that he started to add Bitcoin to his portfolio when it was available for $200 per unit, and he also told journalists that a major acquisition of BTC happened during the crypto crash last year when the top coin tumbled to $30K.
He further expressed his distaste towards the investors who refrain from diversifying their portfolios.
Last year, Miller claimed that the investors would start to view Bitcoin as a valuable investment option when the price of the paper currency goes down.
Talking about his trading experience with Bitcoin, Miller confessed that he had witnessed three 80% price cascades thus far with Bitcoin, and therefore he is not concerned over the recent price crash. He added in last that he does not see a good enough argument why any investor should not convert at least 1% of their liquid portfolio into Bitcoin.