Bill Miller recommends buying bitcoin (BTC) and …

Bill Miller recommends buying bitcoin (BTC) and ...

The famous American investor and fund manager, Bill Miller was a special guest at the Forbes ShOOK Top Advisor Summit, which was held recently in Las Vegas, Nevada. The opportunity for him to reaffirm his support for the crypto industry, despite the bearish market. Bill is one of the biggest crypto optimists. He has already publicly claimed that gold is obsolete and that bitcoin (BTC) will take its place. In his intervention, he said that the market currently offers opportunities and he is urging the public to seize them. What are these opportunities?

Bitcoin (BTC) and stocks

Speaking at the conference, Bill Miller touched on new developments in the crypto industry. He encouraged investors to take advantage of many trading cryptos at low prices, to buy some. Therefore, he identified bitcoin (BTC) as a promising value for the coming years. He then identified other investment opportunities outside of crypto. These are stocks of companies that have performed poorly this year and have seen their prices drop significantly. For him, the recovery in the market will be interesting for the growth of stocks. Overall, these are companies with strong free cash flow trends. But their stock values ​​are trading at discounted prices.

These include Norwegian Cruise Line Holdings, ride-sharing service Uber, Delta Airlines, Clear Secure, Silvergate Capital, and Chesapeake Energy.

Said the intervention of the investor

“The prices of these stocks have dropped significantly. The view is that if your time horizon is longer than a year, you should do very well in the market.”, he declared. A participant drew attention to the uncertainty factors hanging over the markets. He answered this: “Be selfish, when others are afraid”.

Bill Miller criticizes the US Federal Reserve

Later in his speech, Bill Miller criticized the Federal Reserve’s policy throughout the year.

“The central bank played hard on inflation. It is behind the realities of the market psychologically. He is focusing too much on economic data rather than focusing more on real-time or forward-looking indicators (…) Unfortunately, these signs suggest that he may be going too far in raising interest rates.”he explained.

For him, the institution’s decisions have greatly contributed to influencing the crypto market and the economy in general.

Bill Miller is a long time crypto advocate and bitcoin (BTC) buyer. He reiterated his optimistic view of the industry, which he called “misunderstood”. Separately, he said that if the Fed tightens monetary policy too much, bitcoin (BTC) is likely to outperform most of the market.

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Download avatar Luc Jose Adjinacou
Luc Jose Adjinacou

Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and share my pen knowledge related to this ecosystem.

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