• Billionaire Bill Miller is still bullish on Bitcoin despite the bear market of 2022 and the recent FTX collapse.
• Miller has already allocated 1% of his entire networth to the largest cryptocurrency, believing it to be digital gold.
• Despite the bearish pressure in the market, Miller is still optimistic about the performance of Bitcoin in the future.
Despite the bear market of 2022 and the recent collapse of the FTX exchange, billionaire Bill Miller is still bullish on Bitcoin. Miller believes that the largest cryptocurrency is digital gold and has already allocated 1% of his entire networth to the asset. Though the bearish pressure in the market has been intense, Miller is still optimistic about the performance of Bitcoin in the future.
Miller, one of the most popular players in the hedge fund industry, made his bullish outlook on Bitcoin clear in an interview with Barron. He noted that Bitcoin had performed quite well in recent weeks despite the bearish pressure in the market that was worsened by the FTX fallout. The downfall of FTX and the criminal charges filed against its founder Sam Bankman-Fried in the United States have dampened trust in exchanges and triggered significant dips.
Despite the bear market of 2022 and the subsequent implosion of some of the top projects and companies in the crypto sector, Miller remains hopeful about the future of Bitcoin. Late 2020 and 2021 were some of the best years for Bitcoin and the entire crypto industry, with the coin reaching an all-time high of over $68,000 in November last year.
Miller is not the only bullish investor in the crypto space. Many investors, such as Anthony Pompliano and Mike Novogratz, have also expressed their optimism about the future of Bitcoin. They have noted that the current bear market is a great opportunity to buy low and sell high in the future when Bitcoin has recovered.
Though the bear market of 2022 has been intense, Miller is still optimistic about the future of Bitcoin. He believes that it is digital gold and is confident that the asset will achieve greater heights in the future, despite the current bearish pressure.