Expansion of Legendary Investors! He once bought the bottom of Bitcoin and made 100x...

At the start of 2022, Bitcoin fell and fell 14% year on year, giving it the worst start to the year. And in this sensitive time, one tycoon really blew himself up and claimed to have destroyed half of his cryptocurrency fortune.

This evil man is the historical record holder in the financial markets, the Bitcoin bull, the billionaire Bill Miller who almost lost and quickly became rich.

In a recent interview, he claimed to have invested half of his fortune in cryptocurrencies and the other half in Amazon.

It once returns 100x from Bitcoin's low and stores data that has topped the S&P 500 for 15 consecutive years, data that no one in the money market has topped.

And although his investment attitude is skeptical, he dares not tell the average person to invest more in cryptocurrencies. He warned against skepticism towards Bitcoin and once suggested that people should share 1% to 2% of their assets. Digital asset investment portfolio.

The well-known leader claims that half of cryptocurrency investments make Bitcoin less than 100x.

On Monday (ET) Business Insider reported that well-known investor and CFO Bill Miller said in a recent interview that half of his personal debt has increased. Invest in Bitcoin and other cryptocurrencies.

"My reason is more people are using crypto now. More money is going into crypto in the investment space," he said.

Miller now calls himself a Bitcoin bull rather than a server.

In the past, Miller has invested in Bitcoin seeking talks, earning over 100x the return.

In November 2013, the value of Bitcoin rose to $1,200. In January 2014, the value of Bitcoin was still above $800 in total. However, throughout 2014 Bitcoin's value was at an all-time low, once falling between $2 and $300.

Miller first bought bitcoin in 2014. According to him, the first purchase cost over $200 and he continued to improve his career thereafter. He stopped his buying after the Bitcoin price gradually rose to $500.

This means that Miller's Bitcoin holding price should be below $500 at the time. By the end of 2021, Bitcoin's value had reached $60,000, and those Miller holdings had more than doubled in about seven years.

In an interview, Miller also said he would buy bitcoin in the spring of 2021 when the price rose to $30,000.

For another investment in personal assets, Miller said he invested all of his capital in Amazon. In April last year and in April 2021, it was publicly announced that he could become Amazon's largest shareholder on Bezos.

In addition to investing 100 times in Bitcoin between 1991 and 2005, Miller established financial market data for the performance of the S&P 500 for 15 consecutive years.

During the financial crisis of 2008, Miller nearly collapsed and his early investments in Bitcoin and Amazon made him a billionaire.

"Bitcoin is digital gold" "Insurance against financial catastrophe"

In an interview acknowledging half of cryptocurrency investment, Miller compared Bitcoin to digital gold, arguing that Bitcoin is a good way to hedge against inflation. He also added that Bitcoin is still the right currency to protect against financial damage, a specialty that no other tool can offer given its 21 million stocks.

Bridgewater founder Dalio also coined the term "digital gold". He thinks Bitcoin can be compared to gold because it has fewer resources by design. "I don't like things like cash because I think hedged assets can improve over time."

Miller also disagrees with the idea that Bitcoin has no value.

Based on the concept of supply and demand, he said, "A Mickey Manto card can sell for five million dollars and a picture of Picasso can sell for hundreds of millions." This may be due to an insufficient supply of materials and the level of demand. "

He believes Bitcoin is the only business entity whose products are unaffected by demand, and this is the basis of Bitcoin's rise.

Miller warns against bitcoin skepticism and hurting people by investing heavily in cryptocurrencies.

Miller admits he's halfway into crypto assets, but cautioned against skepticism about bitcoin and called it "very risky" for short-term investors.

He also publicly stated and reiterated that ordinary investors should invest in cryptocurrencies with a wet position, and believed that people should allocate 1-2% of their capital layer to digital assets.

This view is similar to that of Bridgewater founder Dario. Dalio also said in an interview on Wednesday that it makes sense for traders to share 1-2% of their Bitcoin data.

Dalio expressed concern about the federal law banning cryptocurrency and its use in criminal extortion cases. He says bluntly that is why his stance on cryptocurrency is uncertain.

Bitcoin fell 14% at the start of the year, marking its worst year since its inception.

Traders can avoid the highs and lows, but the average person is competitive with a high exchange rate. For ordinary investors, the difficulty of investing in cryptocurrencies is still too high, so be careful when trying.

Bitcoin's recent uptrend has affected many traders, once falling below $40,000, down 14% last year, and having the worst start since it began. .

The cause of the recent bitcoin crash. Analysts said it was a tough week for crypto holders as the entire crypto market cap fell below the critical $2 trillion level, which is now $1.97 trillion. The entire crypto industry is in awe as traders worry about the global spread of Omicron and the implications it may have on the market.

Mike McGlon, commodities market analyst at Bloomberg, said the Fed's signal to tighten monetary policy in 2022 could create a shorter period for commodities such as commodities and cryptocurrencies.

Going forward, some analysts have expressed concerns about Bitcoin's differences.

Todd Lowenstein, executive director of Union Bank's private equity division, believes Bitcoin prices are similar to many asset bubbles in history, and people have always thought "the time is right. different".

Carol Alexander, professor of finance at the University of Sussex, predicts that Bitcoin will fall to $10,000 by 2022, wiping out almost all of the profits from the previous year and a half.

However, some analysts agreed, according to Bloomberg stock expert Mike McGlone, that Bitcoin is still a good time to stand out when traders see its share being priced based on the digitally prepared asset.

According to Yuya Hasegawa, cryptocurrency market analyst at Japanese bitcoin exchange Bitbank, “the biggest risk (see Fed quantitative easing) has landed and could be depreciated.”