Investing legend and co-founder of Miller Value Partners Bill Miller is offering a powerful investment case for Bitcoin (BTC), labeling it the single best performing asset in multiple time periods.
In a CNBC interview, the executive of the long-term investment management firm says the demand for Bitcoin is significantly outpacing supply.
“The Bitcoin story is very easy, it’s supply-demand. It’s economics not 101 but .01 which is Bitcoin’s supply is growing around 2.5% a year, and the demand is growing faster than that, and there’s going to be a fixed number of them.”
“It’s been very volatile, but I think right now its staying power gets better every day. I think the risks of Bitcoin going to zero are much, much lower than they’ve ever been before.”
“I think every major bank, every major investment bank, every major high-net-worth firm is going to eventually have some exposure to Bitcoin or what’s like it, which is gold or some kind of commodities.”