Crypto

Crypto: Bill Miller Recommends Buying Bitcoin (BTC) and…

Renowned American investor and fund manager Bill Miller was a special guest at the Forbes SHOOK Top Advisor Summit recently held in Las Vegas, Nevada. An opportunity for him to reaffirm his support for the crypto industry despite the bear market. Bill is one of the biggest crypto optimists out there. He has already publicly stated that gold is obsolete and Bitcoin (BTC) will take its place. In his speech, he said that the market currently offers opportunities and encourages the community to take advantage of them. What are these possibilities?

Bitcoin (BTC) and stocks

Speaking at the conference, Bill Miller touched upon new developments in the crypto industry. He urged investors to take advantage of the large number of cryptocurrencies trading at low prices to buy some of them. Thus, he identified bitcoin (BTC) as a promising value for the next few years. He then identified other investment opportunities outside of cryptocurrencies. These are stocks of companies that have performed poorly this year and whose prices have fallen significantly. For him, the recovery of the market will be interesting for the growth of these shares. In general, these are companies with strong free cash flow trends. But the value of their shares is traded at discounted prices.

These include Norwegian Cruise Line Holdings, ride-sharing service Uber, Delta Airlines, Clear Secure, Silvergate Capital and Chesapeake Energy.

Investor intervention commented

“The prices of these shares have fallen significantly. The outlook is that if your time horizon is more than a year, you should perform very well in the market,” he said. The participant drew attention to the factors of uncertainty hanging over the markets. To which he replied, “Be greedy when others are afraid.”

Bill Miller criticizes the US Federal Reserve

Later in his speech, Bill Miller criticized the policies of the Federal Reserve during the year.

“The central bank played hard on inflation. This psychologically lags behind the realities of the market. He overreacts to economic data instead of paying more attention to real-time or forward-looking indicators (…) Unfortunately, these signs indicate that he may go too far in raising interest rates,” he said.

In his opinion, the decisions of the institution have largely influenced the cryptocurrency market and the economy as a whole.

Bill Miller is a cryptocurrency advocate and longtime buyer of Bitcoin (BTC). He reaffirmed his optimistic view of the industry, which he called “misunderstood”. Separately, he said that if the Fed tightened monetary policy too much, Bitcoin (BTC) would likely outperform most of the market.

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Avatar of Luke Jose Ajinaku
Luke Jose Ajinaku

The failed cryptocurrency investment in 2017 not only did not dampen my enthusiasm, but only increased my enthusiasm. Therefore, I decided to study and understand the blockchain and its many applications, as well as pass on information regarding this ecosystem with my pen.

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