Miller backed Bitcoin with his statements and described as myths some arguments that people are currently using to go against the digital currency.

The millionaire investor of traditional markets, Bill Miller, embarked on a new journey to endorse Bitcoin as he describes it as an excellent investment asset. The investor highlighted its technical and financial features and stated that they are superior compared to other currencies.

Miller shared these thoughts in a letter to investors in various markets, where the millionaire shared some considerations about the role of MicroStrategy in the evolution of Bitcoin in price.

After presenting some considerations regarding the MicroStrategy case, Miller started at deeper concerns about Bitcoin. Among many things, he said:

“Now that everybody knows what Bitcoin is, why would anyone want to have some [of it]? There is no other existent asset out there with the capacity to combine Bitcoin’s liquidity with its upside potential. Bitcoin continues to be an emerging, limited-property technology with enormous routable potential, a currency that owns a market, and it has a brilliant protocol, logically consistent with distributed governance”.

William H. Miller III is an American businessman, Fund Manager, Philanthropist, former President, and Chief Investment Officer of Legg Mason Capital Management

William H. Miller III is an American businessman and philanthropist. He also served as President and Chief Investment Officer of Legg Mason Capital Management and Senior Portfolio Manager of Legg Mason Capital Management Value Trust. He is the portfolio manager for the former Legg Mason Opportunity Trust mutual funds, now in his firm “Miller Value Partners.”

Bill Miller is from Laurinburg, North Carolina. Son of a man that worked as a terminal manager for a trucking company. Miller graduated with honors from the University of Washington and Lee in 1972 with a BA in economics.

After graduation, he offered his services to the nation as a military intelligence officer abroad. He then went on a journey to pursue a grade study in philosophy at the Ph.D. program at Johns Hopkins University, and at the same time, he worked part-time as an accountant while working part-time in accounting.

Bill Miller’s Investment Philosophy

Miller is considered a value businessman with a knowledgeable eye for investments; he believes that stocks can be valuable if it trades at a discount from its intrinsic value. Legg Mason Capital Management Value Trust’s performance eclipsed the S&P 500 index for 15 consecutive years from 1991 to 2005.

Michael Mauboussin, the former chief investment strategist at Legg Mason Capital Management, analyzed historical data on the percentage of equity mutual funds surpassing the market during Value Trust’s 15-year streak. He estimated that beating the market in the 15 years ending in 2005 was a very distant probability.

Miller is currently living in Baltimore, Maryland. He recently made a massive donation of $ 75 million to his alma mater, John Hopkins University. The money went to the philosophy department of the institute. He argues that philosophy helped him to build what he is to date.

By: Jenson Nuñez

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