Bitcoin Is Near a Record High

Legendary investor Bill Miller is a long-term Bitcoin bull. He’s been buying since 2013 and is still holding. His average cost? $300.

Miller is among the growing number of big-name investors with strong track records to buy Bitcoin stocks. For him, it’s all about risk and reward…

“I could make 100x of my money. I could make 1,000x, maybe more than that. I can only lose 100%,” Miller said in a July 2020 FutureProof interview.

If Bitcoin does return 1,000x on his investment, that would put Bitcoin’s price at $300,000.

At writing, Bitcoin is trading at about $15,500 USD for 1 Bitcoin.

Bitcoin is a digital currency that is decentralized. It’s not controlled by any government or entity.

It also has a limited supply. Only 21 million Bitcoins will ever be produced. About 18 million are already in circulation.

Miller thinks people should put a small amount of their investment portfolio into Bitcoin — but only about 1–2% because it’s still a risky investment.

Miller is a former hedge fund manager and philanthropist. He’s best known for managing Legg Mason, a firm that beat the S&P 500 index for 15 consecutive years from 1991 to 2005.

He left Legg in 2016. After his departure, he disclosed in an interview that his firm had lost 20% in 2015.

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