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© Reuters. American Investor Bill Miller: Bitcoin is Dramatically Different
- American investor, Bill Miller, believes that is a dramatically different asset.
- Bitcoin has outperformed the mainstream market by 120% since March 2020.
- Bitcoin price will pick up towards the end of 2023, ahead of the 2024 Bitcoin halving.
American investor and fund manager Bill Miller III has reiterated his belief in Bitcoin (BTC) and described it as a dramatically different asset. During a televised program on CNBC, Miller III compared BTC to other assets that have struggled over the years. He explained that while the Feds intervened to save the mainstream market during the COVID-19 pandemic, the BTC network ran continuously without interruption.
Moreover, Miller III defended BTC against the idea that it has collapsed, considering the significant price drop from an all-time high (ATH) of $69,045. He debunked this incorrect analysis and explained that since the market low in March 2020, the mainstream market has climbed by only 70%.
During the same period, the price of bitcoin has risen by 190%. Therefore, by side-by-side comparison, BTC is a better-performing asset.
The idea of judging BTC based on the yardstick of collapsed exchanges like FTX and Celsius was also discouraged by Miller III. He clarified that FTX, Celsius, and their likes are centralized entities that should not be confused with BTC. He said;
I …
The post American Investor Bill Miller: Bitcoin is Dramatically Different appeared first on Coin Edition.
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Image and article originally from www.investing.com. Read the original article here.