Afraid of a Big Financial Crash? Bill Miller Says Bitcoin Is Your Insurance Against Such a Catastrophe.
Afraid of a Big Financial Crash? Bill Miller Says Bitcoin Is Your Insurance Against Such a Catastrophe.Bitcoin represents between 50% and 60% of Bill Miller's portfolio now.The weeks are going on and on for the Bitcoin market. Bitcoin will now record its 9th weekly red candle. Last week we were already talking about an extremely rare situation for the 8th weekly red candle. How would you describe this 9th weekly red candle? I leave it to you to propose your ideas in the comments. Anyway, we can see that extreme fear is dominating the market now. This fear is linked to the uncertainty of the situation for the months to come. More inflation? Recession? Stagflation? Both? No one knows what lies ahead, which complicates the work of central bankers and therefore the vision of investors in the financial markets: Thus, the fear that prevails in the Bitcoin market is also noticeable in all financial markets. Even gold is not taking off, which is surprising to many given the current uncertainty. It has to be said that gold is starting to tire. Why? Many are simply fed up with its manipulated market. Of course, gold remains an established reserve value for centuries, but individuals want something more relevant to their times. That's where Bitcoin comes in. Digital gold on steroids, because it allows for so much more. Bitcoin's current price does not change its fundamentalsSo of course, all of this is not materializing on the price of Bitcoin which is around $29K as I write this. Retail investors are absent from all liquid markets and prefer to wait wisely. This can be seen in the very low trading volumes. Yet, despite the fear that Terra's collapse has added to the market, the opportunity with Bitcoin is now. While a major financial crash could occur, Bitcoin will be your lifeline. It's hard for some to see that in a market dominated by fear, and where Bitcoin's opponents are having a field day. Christine Lagarde has just assured once again that Bitcoin and cryptocurrencies have no intrinsic value. Perhaps she feels obliged to repeat this constantly to convince herself ... Bill Gates, the founder of Microsoft who considered the Internet to be “a passing fad” in the late 90s, also assures you that Bitcoin has no value. And therefore no future. Just hearing him talk about Bitcoin like that makes me even more bullish than before, I must say. Between these naysayers who are taking advantage of the current uncertainty, some investors are taking the high road. When they're billion-dollar investors, that's something that speaks to you more than when I tell you that the opportunity with Bitcoin is now. Bill Miller strengthens his position in BTC, as he sees Bitcoin as insurance against financial catastropheThis is especially true of Bill Miller, a famous investor, and fund manager. The man built his fortune by founding the investment firm Miller Value Partners. I already told you about him at the beginning of 2022 when I said that the secret for this year would be to focus on the number of BTC you HODL, not the price of Bitcoin at the moment T: Well, Bill Miller has more confidence than ever in Bitcoin, which he sees as the best possible hedge against the potential big financial crash ahead. What makes him so confident in Bitcoin is that it cannot be controlled by the powerful in the current system:
What is happening with the war in Ukraine also confirms this. Bitcoin is helping all those who cannot rely on the current monetary and financial system daily. There are more and more of them. For Bill Miller, “Bitcoin is an insurance policy”, because “Bitcoin works without the intervention of central banks or governments”. The investor took the opportunity to make fun of Mike Novogratz, who had the logo of Luna, the cryptocurrency that recently crashed, tattooed on his arm: “maybe you should have had a Bitcoin on your arm, it would be a bit more durable than this one”. Indeed, as far as durability is concerned, it's better to have the Bitcoin logo tattooed on your arm than a Sh*tcoin. Anyway, everyone does what they want with their body. It'll be a souvenir for Mike Novogratz. Putting his money where his mouth is, Bill Miller invested half of his funds in Bitcoin:
Final ThoughtsBill Miller is not the only billionaire investor who fundamentally believes in Bitcoin. There are more and more of them, and I already told you about them at the very beginning of 2022 here: What I want you to understand here is that this is not the time to panic. Uncertainty obstructs the vision of most market participants, but you have to make the effort to look past it. If you do, then you will understand why Bill Miller is so Bullish on Bitcoin. You will do the same as I and all other Bitcoiners: you will be patient in continuing to learn about Bitcoin during this moment of consolidation with the price of Bitcoin seemingly stuck below $30K. This is reminiscent of what we experienced in the summer of 2020 when the price of Bitcoin seemed to be stuck between $9k and $10K. The rest is history. So be patient. In Bitcoin We TrustComment & Earn!Share your thoughts and opinions on the topics covered within this blog in the comments below for your chance to win yourself an NFT. Click here for more information on our engagement rewards. If you liked this post from Cryptowriter, why not share it? |
Key phrases
Older messages
EOSweekly: Yield+, Defibox, Coalition+, Hackathon, Pomelo
Sunday, May 29, 2022
TOP HEADLINES Yield+ Blue Paper (In Full) The Yield+ Blue Paper is finally here. Maybe you're wondering about new topics that weren't outlined in last week's ENF preview post. When
EOSweekly: Eden Funds, Yield+, ENF, Pomelo, Mandel
Saturday, May 21, 2022
TOP HEADLINES More Funding Coming to Eden? Eden Chief Delegate meeting #5 may prove to be a memorable one. Its ultimate impact may lead to increased Eden's funding. Chris Barnes listed the key
Do Kwon’s Proposal To Save the Soldier Terra (LUNA) - Do You Still Believe It?
Tuesday, May 17, 2022
A fork submitted to a vote that is far from being unanimously approved by the community.
$69K Bitcoin vs. $30K Bitcoin: Different Price, but Same Code and Guarantees on the Protocol.
Tuesday, May 17, 2022
Step back to see the bigger picture.
EOSweekly: Rebranding, Wired B1, EOS Support, Rate 2.0, Coalition
Saturday, May 14, 2022
TOP HEADLINES Rebranding EOS: Historical Significance and Look Forward The EOS mainnet community patiently awaits the next upgrade of EOSIO in Mandel. Note that the name Mandel is a placeholder for the
You Might Also Like
Investor exodus from Bitcoin ETFs as BlackRock and Fidelity see significant outflows
Friday, April 26, 2024
BlackRock see back-to-back zero flows as Fidelity's FBTC records first outflow. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Raise your onchain score
Friday, April 26, 2024
New Quests just dropped. Claim APT while you increase your chain score and build your reputation, helping with potential airdrop eligibility Flipside Crypto Hey there, A new Aptos Quest dropped. Claim
NFT & Blockchain Gaming Weekly - 📈 Runes Dominated BTC Transactions Post-Halving
Friday, April 26, 2024
Runes Dominated BTC Transactions Post-Halving. Telegram to tokenise stickers & emojis as NFTs. ApeCoin price drops 66% amid BAYC decline. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
WuBlockchain Weekly: SEC Expected to Reject Ethereum Spot ETF, ConsenSys Sues SEC, CZ trial is approaching and Top…
Friday, April 26, 2024
1. BlackRock's Bitcoin Spot ETF Achieves 70 Consecutive Days of Net Inflows link BlackRock is very pleased with the performance of its Bitcoin spot ETF (IBIT). Since its launch in January of this
Your bi-weekly crypto insights 📊
Thursday, April 25, 2024
Top data-driven insights from across the crypto space, to keep you ahead of trends. This week's top insight: Sei TVL per active address grew 10x since Flipside Crypto Onchain Insider Your bi-weekly
BlackRock’s historic 71-day streak ends as IBIT Bitcoin ETF sees zero inflows
Thursday, April 25, 2024
Fidelity and Ark only ETFs to record inflows as Bitcoin ETFs begin to cool off. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Your Last Chance to Make BANK on Crypto
Thursday, April 25, 2024
Open This or Miss Out
Inside Parcl: Trade Real Estate Like Never Before?
Thursday, April 25, 2024
Parcl, a pioneering Solana-based platform, aims to revolutionize the real estate market by introducing liquidity to this traditionally illiquid asset class. It created a comprehensive real estate index
Reminder: The 2024 Bitcoin Halving Has Successfully Been Completed
Thursday, April 25, 2024
We bring you the top stories in crypto every week! Stories like... Monday April 22, 2024 Sign Up Your Weekly Update On All Things Crypto TL;DR The 2024 Bitcoin Halving Has Successfully Been Completed
April 30 set for historic launch of Bitcoin and Ethereum ETFs in Hong Kong
Wednesday, April 24, 2024
Competitive fee structures revealed for new Bitcoin and Ethereum ETFs in Hong Kong. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏