{"id":485235,"date":"2022-03-05T15:32:20","date_gmt":"2022-03-05T15:32:20","guid":{"rendered":"https:\/\/wncen.com\/?p=485235"},"modified":"2022-03-06T11:03:39","modified_gmt":"2022-03-06T11:03:39","slug":"billionaire-investor-says-crypto-outlook-is-very-bullish-for-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/billionaire-investor-says-crypto-outlook-is-very-bullish-for-bitcoin\/","title":{"rendered":"Billionaire Investor Says Crypto Outlook Is ‘Very Bullish’ For Bitcoin"},"content":{"rendered":"
Billionaire Bill Miller, a seasoned billionaire investor, explains why he believes the current crypto outlook is very positive for Bitcoin.<\/p>\n
Miller likens Bitcoin to digital gold when it comes to the digital currency. Other cryptos are simply “adventure investments” since they lack the uniqueness of Bitcoin, he said.<\/p>\n
A fund manager, Miller highlighted that nearly half of Russia’s reserves are held in currencies controlled by individuals seeking to do them damage.<\/p>\n
Miller, a co-founder of Miller Value Partners, spoke on the future of crypto in the face of Russia\u2019s ongoing invasion of Ukraine.<\/em><\/p>\n Related Article | <\/strong><\/em>Criminal Whales Hold $25 Billion In Crypto Assets: Chainalysis Report<\/em><\/strong><\/a><\/p>\n “The rest of crypto is a different story,\u201d he said. The remainder of the cryptos could be called “adventure investments” since he believes they are all attempting to tackle different challenges.<\/p>\n The renowned value investor has been a long-term advocate of bitcoin. Last month, he revealed he had “a substantial” amount of bitcoin, and compared it to digital gold as a hedge against inflation.<\/p>\n He also referred to the current crypto outlook and Bitcoin as “insurance against financial disaster.”<\/p>\n Miller\u2019s deep knowledge of investing and the stock market holds weight because of his vast business experience.<\/p>\n <\/p>\n Russia has 16% of its $640 billion in reserves in dollars, with 32% of assets denominated in euros.<\/p>\n According to Miller, they have 22% of their reserves in gold, which is the only component other nations cannot seize. He said:<\/p>\n “I believe this is very bullish for bitcoin.”<\/p><\/blockquote>\n Several nations have slapped Russia with all sorts of sanctions since it attacked Ukraine.<\/p>\n As a result, the Russian currency and the stock prices of Russian enterprises listed on foreign exchanges have fallen precipitously.<\/p>\n European Union Commission President Ursula von der Leyen did not mince words, last week:<\/p>\n “We will paralyze the assets of Russia’s central bank.”<\/p><\/blockquote>\n This announcement is expected to result in transactions being suspended and, in effect, will render the central bank unable to dispose of its assets.<\/p>\n Meanwhile, the CEO of Devere Group, Nigel Green, also shares the same level of optimism and has predicted that bitcoin’s price will reach $50,000 by the end of this month if the current outlook for the crypto is to be the gauge.<\/p>\n Bitcoin is now trading at $39,007. Green believes that the dollar’s standing as a global reserve currency might be threatened if viable and practical alternatives, such as cryptocurrency, emerge.<\/p>\nCrypto Outlook Favorable For Stakeholders<\/h2>\n
BTC total market cap at $740.14 billion in the daily chart | Source: TradingView.com<\/a><\/pre>\n
Russian Sanctions Good For Bitcoin?<\/h2>\n
War Drives Bitcoin Up: Devere CEO<\/strong><\/h2>\n