The unique billionaire investor currently owns 50% of his net worth in Bitcoin and related investments in major industrial companies such as Michael Saylors MicroStrategy and mining firm BTC Stronghold Digital Mining.
Helium also reported that Miller, an Amazon native investor, owns 100% of the remainder of his successful Amazon portfolio.
Bill Miller purchased his first BTC in 2014
Miller bought his first bitcoin in 2014 when BTC was trading around $200 and then bought “a little more” when the price hit $500. in the amount of 66,000 US dollars.
In a WealthTrack video interview published on January 8, 2022, Miller revealed that half of his personal wealth comes from Bitcoin and other cryptocurrencies.
Miller also revealed that his other bitcoin-related investments include mining firm StrongHold Digital and business intelligence firm MicroStrategy, whose CEO Michael Sailor also believes in the world and potential of cryptocurrency
In fact, Bill Miller increased his BTC’s assets to around $5.9 billion last year. In addition to buying BTC outright,
Miller, who rose to fame as a fund manager at Legg Mason, leading the S&P 500 for 15 consecutive record years from 1991 to 2005, previously also invested heavily in bitcoin in the funds he managed and made big bucks for his clients.
Miller turning back on his earlier advice to investors
He is currently the Chief Investment Officer of Miller Value Partners, a firm he founded in 1999. He currently manages the former Legg Mason Opportunity Trust mutual fund through his firm Miller Value Partners.
This move defies his widely accepted advice in which he earlier said that investors shoucate only 1-2% of their portfolio for digital assets.
While disclosing his holdings, Adam Dalio said that allocating 2% of one’s wallet to Bitcoin is reasonable. In explaining his choice, Miller simply says that gold as a more traditional “store of value” asset class is not enough and one should incorporate the power of Crypto for growing their money.
‘Digital gold of 21 century’
Although Bitcoin has long been referred to as “digital gold,” Miller prefers Bitcoin to gold. Bitcoin, according to Miller, can be viewed as “digital gold” with a strictly limited supply. Miller calls himself a “Bitcoin Explorer”, comparing the growth trajectory of cryptocurrencies to the trajectory of the printing press and the steam engine. He believes that Bitcoin can act as insurance if the government decides to confiscate the gold.
He also pointed to a shortage of bitcoins, which means only 21 million bitcoins can be created. “I think the average investor should ask him what he has in a portfolio with this track record — number one; they have little penetration; they can provide financial catastrophe insurance that no one else can; they Up to ten.
If that happens, half of Miller’s wallet will drop to a third of its value, as he bought almost all of Bitcoin last year. And, according to him, if there is a limit to the number of bitcoins that can be created, then no matter what the price of bitcoin is right now, it is bound to rise.
According to Coindesk, there are currently 18.69 million bitcoins in circulation.