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A Billionaire Puts Half His Fortune In Bitcoin

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billionaire puts half his fortune in bitcoin

technet - according to the latest digital currency news, there has been news of a billionaire putting half of his wealth in bitcoin and investing in it, but why?

in a short time bitcoin quickly became the preferred investment even among those who are not inclined to technology.

this was due to the growth of digital assets and cryptocurrencies, as well as the number of people who began adopting them in the last few years.

as bitcoin becomes more popular, some investors are rushing to be among the first to adopt digital assets.

one of them is legendary investor bill miller, who recently revealed that he put half of his net worth in bitcoin and other cryptocurrencies.

apparently, miller has been collecting bitcoin personally for a long time, and now has half his wealth invested in cryptocurrencies and creptos.

billionaire put his fortune in bitcoin

miller's announcement came as a surprise given that the billionaire investor had previously advised other investors to put only about 1% to 2% of their portfolios in digital assets.

During a session with WealthTrack, Miller revealed some amazing things about his investment strategies and the amount of investment in Bitcoin and other cryptocurrencies.

the billionaire said in the interview that he first bought bitcoin in 2014 for about $200.

at this point bitcoin was only about five years old.

miller be made one of the first wave of billionaire investors to enter digital assets.

however, it did not stop there as it continued to add to its stock over time.

as he mentioned in his own confession, that he stopped buying more bitcoin only when the price rose to $500.

He has also expanded his stake in digital assets through other products such as microStrategy investment.

it's worth mentioning that the gap in his purchase of bitcoin was when digital assets crashed from $66,000 to $30,000, when miller began buying more bitcoin.

why do we put so much in bitcoin?

miller's logic of betting on much of his personal wealth on bitcoin is similar to most investors who have invested in cryptocurrencies.

limited supply and increased demand for supply have been a major incentive for the billionaire investor.

he sees a lot of money go to the original where more people start using the asset.

miller also said there is a lot of money coming from the world of venture capital to assets.

miller said:

there are a lot of skeptical people who are at least now trying to try it.

however, it is about the very basic level of supply and demand, bitcoin is the only economic entity where supply is not affected by demand.

Four years ago, Legg Mason hedge fund manager Bill Miller revealed to WealthTrack that he had invested 50% of his MVP 1 fund in Bitcoin.

overall, miller invested about $1.1 billion in digital assets.

THE MILLER MVP 1 FUND IS WORTH MORE THAN $55 BILLION TODAY.

it is worth mentioning that the billionaire investor revealed that the other half of his net worth is invested in amazon shares.

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