Bitcoin is the new global denominator for wealth💰💸🪙
Bill Miller IV, president of Miller Value Partners, mentioned that more and more companies are adopting bitcoin, "something that has not been seen before."
Bill Miller IV, president of Miller Value Partners, presented his perspective on the role of bitcoin (BTC) in the economy and assured that "it is the new global denominator for wealth."
Miller argues this because Bitcoin offers businesses and individuals a way to protect themselves against inflation and economic instability.
The businessman was interviewed by the CNBC network during the Bitcoin 2024 conference. There he compared bitcoin to what the United States Federal Reserve does with the dollar.
"If you look at the history of the Federal Reserve, they printed about 6% supply growth over an incredibly long period, a 6% supply growth that just happens to coincide with the long-term growth rate of nominal GDP." Miller said.
In his opinion, one of the problems that bitcoin solves is that we would no longer have politicians "trying to curry favor, redistribute wealth, change taxes and change all kinds of things," he commented.
With bitcoin "you have what you have", that is, 21 million bitcoins, unlike the dollar which is printed indiscriminately by the government. Therefore, we are “incredibly optimistic about the long-term performance of bitcoin.”
