Since cryptocurrencies began to gain popularity, many personalities have decided to use them. Millionaire Miller is among those who have joined the ranks of those who jumped on the bandwagon and decided to leverage cryptocurrencies to generate income. He explained in an interview the reason why he decided to get into this sector.
The ideal time to invest in bitcoin (BTC)
In an interview with the media WealthTrack, Mr. Miller revealed that he had invested 50% of its entire portfolio in bitcoin (BTC) and businesses related to this leading digital asset. He also explained that for him the ideal time to make this investment was during the period in which the value of BTC had plunged by $30,000. Indeed, over time and given the rise in the price of cryptocurrency, Mr. Miller was able to enjoy the fruits of his investment.
“Bitcoin has grown an average of 170% per year over the past 11 years. There are a lot more people using it now, a lot more money being poured into it from the venture capital world, there are a lot of skeptics trying it out now,” did he declare.
Afterwards, the millionaire indicated that he disagrees with Warren Buffet’s comments regarding the non-existence of an intrinsic value granted to the BTC. “Bitcoin is the only economic entity where supply is not affected by demand,” asserted Mr. Miller in response to Mr. Buffet that the value of BTC depends on the dynamics of supply and demand.
Other millionaires who invest in BTC
Miller also revealed that his other BTC-related investments include company StrongHold Digital and business intelligence firm MicroStrategy, whose CEO Michael Saylor is also a proponent of buying the cryptocurrency during off-peak periods. Speaking of MicroStrategy, currently the company’s holdings of BTC are around $5.9 billion.
Among the personalities who have changed their vision about bitcoin (BTC), we can also mention Ray Dalio. He is now a strong supporter of cryptocurrency as portfolio diversification tool. In an interview, he confided that he will allocate 2% of his portfolio to digital assets. In addition, he highlighted the need to diversify the sources of investment.
Investing in bitcoin (BTC) is a great move according to many people, especially cryptocurrency advocates. As Ray Dalio said, she is a “alternative to the gold of the young generation”. We then understand why Mr. Miller decided to start investing in BTC.
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Behind the generic signature “TCT Writing” are young journalists and authors with specific profiles who wish to remain anonymous because they are involved in the ecosystem with certain obligations.