US billionaire Bill Miller: Bitcoin similar to gold

It is the most stable cryptocurrency out there, he says

US investor Bill Miller believes Bitcoin is the best cryptocurrency in which to invest and that it is similar to gold. The Miller Value Partners Chief Investment Officer and founder has invested in Bitcoin at a personal level but also as part of a partnership portfolio.

The billionaire granted Bloomberg an interview in which he referred to cryptocurrency as an “interesting technological experiment”.

Bitcoin is the most stable of the currencies. I think it has the greatest probability of being successful. There are others that people like, but that’s the only one I’m interested in,” he commented.

READ MORE: Steve Wozniak: Bitcoin is pure digital gold

On 10th July, Wall Street investor Bart Smith of Susquehanna International Group stated Bitcoin was still the best bet for cryptocurrency investors and that people are “functionally using” the digital coin.

“If you want to own the asset that you can actually use today and that people are functionally using, it’s Bitcoin,” he told CNBC.

READ MORE: Five things to be aware of before investing in a new cryptocurrency

He said that Bitcoin was a much better currency for people working in one country needing to send money to another.

“They use Western Union, traditional banks. It is slow and it is expensive,” Smith added. “And there are people that can stop you from sending that money, whether that’s good or bad. With Bitcoin, I can send money. It’s fast. It’s cheap. And frankly, no one can stop me.”

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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