Bitcoin should be separated from centralized companies such as FTX and Celsius Network, the collapse of which scared away many potential investors from the crypto market, says Bill Miller, founder of Miller Value Partners.
In an interview with CNBC, the billionaire investor noted:
“The collapse of FTX was the collapse of a centralized enterprise, just like Celsius. And I think it is extremely important to understand that bitcoin is fundamentally different from them.”
Miller also drew attention to the problems of traditional markets during the pandemic, when they experienced liquidity problems. In his opinion, the first cryptocurrency has demonstrated its advantages here:
“Federal Reserve System [США] I had to go in and put things in order, just throwing in a huge amount of liquidity. Bitcoin is traded around the clock. There was no disruption in his market.”
The billionaire also drew attention to the fact that since the collapse of the markets in March 2020, stock indices have grown by 70%, and the first cryptocurrency by 190%.
“Over the past month or so, bitcoin has been less volatile than [фондовый] market,” Miller added.
He confirmed that his fund owns shares in the largest US digital asset exchange Coinbase and crypto investment firm Silvergate Capital.
In January 2022, Miller revealed that he had invested part of his fortune in bitcoin and altcoins. As prices rose, these investments accounted for up to half of his personal savings.
Recall that in February, the billionaire called digital gold insurance against inflation and financial disasters.
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