Famous Investor Praises Bitcoin as “Digital Gold”

Billionaire investor Bill Miller, who is also the founder of Miller Value Partners, praised Bitcoin and a few other cryptocurrencies during a recent conversation with author William Green.

Bullish: Miller praised Bitcoin and compared it to “digital gold” during the conversation. He said that the digital asset is now established and has the backing of venture capitalists.

More Coin Praise: During the conversation, Miller also said that he liked Coinbase (Nasdaq: COIN) and that there are some other cryptos, such as Etherum that are good.

Background: Miller, who famously bought shares of Amazon (Nasdaq: AMZN) 20 years ago, made an investment in Bitcoin earlier this year. It is meaningful for Bitcoin to have the support of a famous investor.

Big Picture: Investors are always looking for a hedge in their portfolios. For a while, investors turned to gold, but Bitcoin has become another alternative.

Final Thoughts: The price of Bitcoin is at its highest level since May.

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