Still, in a year that saw an industry-wide liquidity crisis sparked by the implosion of the Terra ecosystem, FTX’s insolvency, and the subsequent contagion, famed fund manager Bill Miller believes bitcoin is holding up well. Miller noted that though the scenario is far from exuberant, with many investors and traders leaving the market, he expected the top cryptocurrency to perform way worse.
“I’m surprised Bitcoin isn’t at half of its current price, given the FTX implosion. People have fled the space, so the fact that it’s still hanging in there at $17,000 is pretty remarkable.“
Bill Miller subscribes to the well-documented paradigm that likens Bitcoin to “digital gold”. Notably, unlike many of his Wall Street contemporaries like Warren Buffett, Miller has been a keen investor in the crypto space.
All Comments