Bitcoin can cost either a lot or a zero. Opinion of financial Manager bill Miller

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2019-01-10 19:15:08

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Bitcoin can cost either a lot or a zero. Opinion of financial Manager bill Miller

Miller is the Founder of Value Partners from Baltimore, bill Miller spoke with CNBC. He said that he likes that is not correlated with the stock market. However, the coin can either fly to the heavens or fall to zero. While Miller claims that he likes to be an observer, rather than a bull. With flagship cryptocurrency it relates the interesting story. In December 2017, the Miller got all the headlines, investing in BTC a billion dollars from the budget of the firm. It happened in the middle of the market.

Here you can not guess. It's like roulette: black or red. I invested in Bitcoin billion dollars in 2017.

He also told CCN that has invested in cryptocurrency 1 percent of their savings, but the amount was not disclosed. Obviously, after a protracted bear market it firm has reduced the share of crypto-currencies in your portfolio. However, the expert believes the main cryptocurrency «interesting technological experiment» that investors definitely should not overlook stupidity.

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Bitcoin is not correlated with the stock market

According to Miller, in Bitcoin he likes at least that cryptocurrency is not correlated with stock markets. This makes the crypt a good direction to diversify in the fall of the traditional market. Miller also notes that in fact the Bitcoin trend even preceded the movements in the stock market.

If you look, Bitcoin record high occurred in December of last year, while the peak of the stock markets was recorded in January 2018. Then he went down and began to recover only in September 2018. But all the while Bitcoin continued to show a decline, and the lack of correlation is obvious.

The More data you look at . The current rate of coins can be found in our classroom .

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