In the form of bitcoin, the ‘trick’ of corporate cash can turn into a ‘torrent’, says Bill Miller



‘If inflation rises, or even if it does not, and more companies decide to diversify some small portion of their cash into bitcoin instead of cash, then the current relative move in bitcoin will become an edge.’


– Bill Miller

This Bill Miller, founder of Miller Value Partners, confirms his rapid outlook on the world’s most popular digital currency, in a letter to clients published Tuesday on the firm’s website.

Miller is one of several high-profile Wall Street investors, including Stanley Druckenmiller and Paul Tudor Jones, who have embraced bitcoin. Part of the excitement comes from the increased adoption of digital currencies, including PayPal Holdings Inc. Includes declaration by PYPL.
-1.82%
The last year that it would allow customers to purchase cryptocurrency through their accounts and use cryptocurrency for merchant payments.

opinion: Bitcoin is headed for a supply shortage – and this will cause prices to continue to rise

Bitcoin BTCUSD,
+ 5.17%
On Wednesday after the end of 2020, it was trading at a record above $ 35,000. According to FactSet, the digital currency has risen by over 20% this week and is up about 350% in the last 12 months.

Bitcoin’s charge is high as other assets were built as a strong 2020 gain, solidly higher in stock, as Democrats appear to be on the verge of unloading both Georgia seats in the US Senate after Tuesday’s runoff elections lamps.

Dow Jones Industrial DJIA,
+ 2.01%
600 points, or 2% above average, at a high above 31,000, while the S&P 500 SPX,
+ 1.48%
The technology gained 1.4% as a heavy Nasdaq composite comp
+ 0.65%
Trailed by 0.5%.

Miller argued that bitcoin can increasingly be seen as an alternative to cash as the Federal Reserve follows policy “intended to invest as cash for the future.”

Miller has printed bitcoin details of billionaire investor – and cryptocurrency Skeptic – Viren Buffett as “rat poison”.

Buffett “may be right. Bitcoin can be a rat poison, and a rat can be cash, ”Miller said.

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