According to Miller, the price of Bitcoin will surge if more people show interest in that as the supply is somewhere fixed.
Miller said that when central banks were struggling to even keep a circulation of traditional financial systems, Bitcoin was facing no such issues.
Miller has speculated that in the near future, many financial advisors will suggest their clients to invest a portion of their assets in Bitcoin.
In the coming three to five years, the financial advisors will start suggesting a 1% to 3% grant to Bitcoin within investment portfolios as mentioned by Bill Miller, an American investor.
Bill Miller has given an interview to Forbes recently in which he highlighted that after attending a lecture of the ex-CEO of Xapo, Wences Casares he decided to buy Bitcoin and at that time, it was trading around $200.
He also highlighted the unique economic properties of Bitcoin and stated that the supply is always constant despite the change in market demand or price. The supply of BTC is limited and is not similar to real money or traditional commodities.
BTC’s investor portfolio is higher than gold
The price of these assets are directly proportional to production but the availableness of Bitcoin has no relations with the change in the market.
He further went on adding that, “It is only that body where the supply is not affected by the demand as well as price. Also, at an elementary stage, you should believe that the demand for Bitcoin will be high as compared to the supply.”
According to Miller, the price of Bitcoin will surge if more people show interest in that as the supply is somewhere fixed. This is not the same as the traditional commodities. In the case of traditional commodities, whenever the price is on surge, mining can be done which will help in pushing the price again in a downward direction.
JPMorgan, a leader in investment banking has reported that in the investor portfolio allocations, Bitcoin was positioned higher than gold. Also, Bitcoin stood over 3.7 times higher as compared to gold.
Bitcoin remains unaffected during market turmoil
Miller’s interest in crypto was fueled by Casares, the former chief executive officer of Xapo and an entrepreneur. The entrepreneur spoke about the economic instability in Argentina, where personal wealth was destroyed by the inflation and actions of the government.
He also said that Bitcoin can be used as a form of digital gold which will somehow put a boundary against financial catastrophe and inflation. He further went on to say that, “ It is my suggestion to put at least 1% of your liquid assets into Bitcoin. There is a possibility that you’ll lose all your money, but it is noteworthy that by what rate it has gone up in the past two years.”
Miller also highlighted the point that at the time when central banks were struggling to even keep a circulation of traditional financial systems, Bitcoin was facing no such issues. Also Bitcoin is very flexible at the time of economic crisis.
He further added that, “ The Fed had choked the system to keep the operations of the Treasury market ongoing, but at that time also, nobody gave a helping hand to Bitcoin. As per the analysis, Miller has speculated that in the near future, many financial advisors will suggest their clients to invest a portion of their assets in Bitcoin.
