Billionaire Bill Miller Supports Bitcoin, But Criticizes Altcoins

Well-known investor and founder of MIller Value Partners expressed optimism about the future of cryptocurrencyindustry.

Back in early 2016, Miller announced that he had invested30% of your portfolio in Bitcoin at an average price of $500. During the last interview, he reiterated that Bitcoin is a digital form of gold. 

Bitcoin is much less risky at $ 43,000 than at $ 300. It has already been recognized, large venture capitalists have invested in it, and large banks are starting to work with it.

However, Miller stated that out of a thousand altcoins, only the most persistent will survive:

There are over 10,000 coins on the market. The chances that many of them will be worthwhile are very low. But bitcoin, ethereum and some others, I think, will remain for a long time.

He also expressed optimism about Coinbase's share price and the future of the exchange. According to him, the COIN share is "the default position for growth investors."

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Based on materialscointelegraph.com