On May 22, billionaire hedge fund manager Bill Miller said he owned Bitcoin. In an interview on CNBC’s “Halftime Report,” Miller said he bought the cryptocurrency when it was trading around $3,000 in early 2018.
At the time of the interview, Bitcoin was trading around $8,400. So, if Miller bought Bitcoin when it was trading at $3,000 and it is now trading at $8,400, that means he has made a profit of about 180%.
Miller is not the only one who has made a killing in Bitcoin. There are many people who have become millionaires by investing in Bitcoin.
The question is: should you invest in Bitcoin?
The answer is: it depends.
If you are a risk-averse investor, then you should avoid investing in Bitcoin. The reason is simple: Bitcoin is a very volatile asset and its price can go up or down by a large margin.
NOTE: Warning: It is not advisable to invest in Bitcoin or other cryptocurrencies without performing thorough research on the ownership and legitimacy of the currency. Investing in Bitcoin or any other cryptocurrency involves a high degree of risk, and there is no guarantee that an individual like Bill Miller owns it or that it is legitimate. Before investing, please ensure that you understand the risks associated with cryptocurrency trading and consult a financial professional if necessary.
For example, in December 2017, the price of Bitcoin surged from $10,000 to almost $20,000. But just a few months later, in March 2018, the price of Bitcoin crashed to around $6,000.
On the other hand, if you are a risk-taker and you are okay with the volatility of Bitcoin, then you may want to consider investing in it. The reason is that even though the price of Bitcoin may go up and down in the short-term, it has always increased in value over the long-term.
For example, if you had invested in Bitcoin in 2009 when it was first launched, your investment would have been worth millions of dollars today.
So, should you invest in Bitcoin? The answer depends on your risk tolerance. If you are okay with volatility, then you may want to consider investing in Bitcoin.
9 Related Question Answers Found
As of early 2018, Bill Miller, chairman and chief investment officer of Miller Value Partners, owned approximately 1% of all outstanding Bitcoin. This amounted to approximately $300 million worth of the cryptocurrency. Miller’s investment in Bitcoin is notable because he is one of the few major investors to have taken such a large position in the asset.
Jack Dorsey, the CEO of Twitter and Square, is a known Bitcoin advocate. He has even gone as far as to call Bitcoin the “native currency of the internet.” But does Jack Dorsey actually own any Bitcoin? There is no direct evidence that Jack Dorsey owns any Bitcoin.
Charles Hoskinson is an early investor in Bitcoin and the founder of Cardano, a blockchain platform for smart contracts. He is also a co-founder of Ethereum. While Hoskinson does not disclose how much Bitcoin he owns, it is safe to say that he is a significant holder.
Michael Burry, the hedge fund manager who famously predicted the subprime mortgage crisis, is now turning his attention to cryptocurrency. In a recent interview, he said that he has been buying Bitcoin, calling it “the best investment of his life.”
While Burry’s exact investment size is unknown, his comments have sent shockwaves through the financial world and caused many to wonder if they should be buying Bitcoin too. So, does Michael Burry own Bitcoin?
Kevin O’Leary, best known as “Mr. Wonderful” from the television show Shark Tank, is a Bitcoin skeptic. He has criticized the cryptocurrency for its lack of regulation and lack of transparency.
As of early 2018, it is not clear whether or not Peter Thiel owns any bitcoin. Thiel is a co-founder of PayPal and an early investor in Facebook, as well as a number of other startUPS. He is also a well-known libertarian and has spoken favorably about bitcoin in the past.
In October of 2017, Peter Schiff, a well-known economist and goldbug, announced that he had finally bought his first Bitcoin. This was a big deal because Schiff is one of Bitcoin’s most vocal critics. He’s often called it a “bubble” and predicted that it would crash.
George Soros is a world-renowned investor, hedge fund manager, and philanthropist. He is also the chairman of Soros Fund Management LLC. Since 1969, he has been engaged in managing funds for clients.
Ray Dalio, the billionaire hedge fund manager, has been a long-time Bitcoin critic. In a recent interview with Yahoo Finance, Dalio reiterated his view that Bitcoin is not an effective store of value and compared it to gold. Dalio said that he doesn’t own any Bitcoin and he doesn’t recommend it to others as an investment.
