Why will investment companies buy bitcoin?

Billionaire investor, founder of Miller Value Partners Bill Miller, believes that the risks of complete depreciationbitcoin is lower now than it ever was before. He made such a statement in a conversation with CNBC on Friday.

“The history of bitcoin is very simple - it is supply and demand. Bitcoin supply is growing by 2.5% per year, while demand is growing faster "- he declared.

While managing the Legg Mason Capital fundManagement Value Trust Miller managed to outperform the S&P 500 stock index for 15 years. In December 2017, he announced that half of the assets of his hedge fund MVP1 were invested in Bitcoin. In the latest interview, Miller warned of a "return" in inflation caused by the Fed's "crackdown on the money supply" and future congressional stimulus.

The investor expects that afterMicroStrategy invested $425 million in Bitcoin, Square — With $50 million and PayPal announcing the addition of its support, every major investment bank and high value asset class will want to expose itself to the cryptocurrency and commodities market, most notably gold.

Miller is also a member of the investmentJohns Hopkins University Foundation Council. According to him, the investment director of the fund said that "everyone will want to have at least some bitcoins" due to the "asymmetric properties" of the cryptocurrency.

“The fund may never buy bitcoin. Nevertheless, this is a bold statement for the university foundation "- he added.

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