Bill Miller invest in Bitcoin

bill

In a recent interview with The Wall Street Journal, Bill Miller has revealed that roughly 30% of the assets in Miller Value Partners LLC’s $154 million USD MVP 1 hedge fund are invested in bitcoin. The share of the fund’s total that is represented by bitcoin holdings has significantly increased following bitcoin’s price gains of approximately 600% this year – as bitcoin represented just 5% of MVP 1’s assets in 2016. Mr. Miller states that the MVP 1 hedge fund has gained in value by approximately 72.5% so far during 2017.

In a letter sent to investors last week, Mr. Miller estimated that the average price paid for the fund’s bitcoins was approximately $350 USD per coin. Although Mr. Miller has stated that the fund will not purchase any additional bitcoin at current prices, he is reported to have said that he would be willing to “put 1% of [his] liquid net worth” into bitcoin if he were not privately exposed to the bitcoin markets.

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