There are lots of opinions and speculations going on around the digital currency space at the moment. Institutional investors and fund managers are increasingly becoming more outspoken regarding what they believe will happen to BTC, altcoins, and the ecosystem of blockchain at large.
Bill Miller’s Opinion – Bitcoin (BTC) Is Becoming Less Risky
During an interview, Bill Miller – the CIO and founder of Miller Value Partners – gave a bullish opinion about Bitcoin (BTC), saying that it is “a very interesting technological experiment.” Although he believes most other digital currencies are worthless.
Bitcoin (BTC) is presently trading over the $8k level, a factor that he recognizes to be very important in the stability of the digital currency. According to Miller, unlike in the past when Bitcoin (BTC) was trading around the $100 level, the panic in the industry is far lesser today.
Miller said: “every single day that the digital currency does not get regulated out of existence or go to zero or blow up, more funds flow into the ecosystem.” With more than 1,700 digital currencies in existence today, he believes that a greater percentage of those digital currencies are of no value and practically worthless.
Miller Said BTC Is Like Gold
The billionaire hedge fund manager said that the best way to think about the digital currency right now is as an asset that is not correlated such as gold. He also pointed out some other potentials of the digital currency such as the possibility to become a universally accepted payment system, a viable currency, and the possibility of central banks across the globe to consider it as another potential asset.
Bitcoin (BTC) Price Today – BTC / USD
The current value of Bitcoin (BTC) is $8,180 after a decrease of 0.3 percent over the past twenty-four hours. The current market cap of Bitcoin is $140.58 billion and its trading volume over the past twenty-four hours is $4.23 billion.