It is no longer possible to ignore Bitcoin, and this tool is becoming mainstream. This is the opinion of Bill Miller, a financier and founder of Miller Value Partners.
On the air of CNBC, he said that the rally that we have been observing over the past months is qualitatively different from the Bitcoin race in 2017. The first take-off was speculative. First, the market was pumped up, and then it crashed in 2018.
Now the situation is completely different, Miller said.
He said: "The bitcoin supply is growing 2% per year, but demand is growing faster. That's all you need to know, and it means that bitcoin is growing."
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The financier recalled that he first invested in BTC in 2014 or 2015 at an average price of $ 350 per coin.
Many people are still afraid of the volatility of bitcoin, but in general, the attitude towards this instrument is gradually changing for the better. Bitcoin will continue to rise in value, Miller said, and agreed with those who view cryptocurrency as "digital gold."
On Wednesday, April 21, bitcoin is trading at $ 55,400. We will remind you that last week turbulence returned to the market ahead of the Coinbase IPO.
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At the moment, BTC soared in the price above $ 65,000. However, after that, the market turned out to be in the red zone, and bitcoin pulled down the rest of the cryptocurrencies.