Billionaires Ray Dalio and Bill Miller are among the most vocal supporters of cryptocurrencies, particularly Bitcoin. After Ray Dalio said that everyone should have some percentage of Bitcoin in their portfolios, Bill Miller revealed that he is no longer being a mere observer of the Bitcoin space. Instead, he is turning into a serious Bitcoin Bull. In an interview with WealthTrack, the billionaire revealed that almost half of his net worth is now in Bitcoins. In the context of Bitcoin’s falling price, it shows how veteran investors have complete faith in the investment instrument and believe in its potential. Some of the crypto-related firms where Miller has heavy investments are MicroStrategy and Bitcoin mining company Stronghold Digital Mining. For his non-crypto investments, Miller is 100% into Amazon and is one of the earliest shareholders of Amazon.
Miller’s comments might come across as shocking since the beginning of 2022 has seen the Bitcoin Bubble conversation floating once again. Despite Bitcoin growing exponentially over the last decade, many financial experts still believe it is too volatile for long-term gains.
Billionaire investors, on the other hand, have spoken about the potential of Bitcoin on numerous occasions. Apart from Bill Miller and Ray Dalio, Micahel Saylor, Elon Musk, and Jack Dorsey are some of the most famous supporters of cryptocurrencies. With backing from such institutional figures, it does not come across as a surprise that the general population is increasingly leaning towards cryptocurrencies and digital assets.