The infamous Bill Miller, the billionaire who got his start at Legg Mason, made some interesting revelations on Friday. In a rare interview with Consuelo Mack of Wealthtrack, he had a lot to say about his investments, as well as some good advice to offer for anyone willing to listen. If you know anything about the man, you know he’s a good man to listen to when it comes to money.
Bill Miller III is the founder, owner, and Chief Investment Officer at Miller Value Partners, which he founded in 1999 while working at Legg Mason. But before that, he started his record-breaking run when he beat the S&P 500 index for 15 consecutive years from 1991 to 2005. So I’d say he’s worth listening to when talking about investments.
So, How Does Bill Miller Feel About BTC?
What was most revealing is that 50% of his investment portfolio is in Bitcoin and Bitcoin-related products at this point. He started years ago when Bitcoin was at $200. Over the years, he kept gradually investing. But then, last year, he bought into the dip when the crypto hit $30,000 down from its record high at around $69,000.
His reason for buying it, which makes a great deal of sense, is that he realized more people were using digital currency. Not only that, but he also saw more investors investing in it. As Bitcoin kept rising in legitimacy, Bill Miller added more to his portfolio.
In the interview, Miller also offered some great advice. He thinks everyone should have at least 1% of their net worth invested into Bitcoin, “I think the average investor should ask himself or herself, what do you have in your portfolio that has that kind of track record – number one, is very, very under-penetrated; can provide a service of insurance against a financial catastrophe that no one else can provide and can go up ten times or 50 times? The answer is: nothing.”
This isn’t the first time you’ve heard this, but Bill Miller also thinks Bitcoin is “Digital Gold.” He’s not the only one, and that’s saying a lot for a currency that just came into existence 13 years ago. It certainly has set the world on fire, and there is nothing to indicate that it will ever stop.
If you’re ready to follow Bill Miller’s advice, Byte Federal is the place. Go bank, Yourself!
