Bitcoin and related investments now make up half of Bill Miller’s personal portfolio
January 10, 2022, 4:08PM EST
1 min read
In a recently released interview from December with WealthTrack, the billionaire Bill Miller says that over half of his personal wealth is in bitcoin and other cryptocurrency-related investments.
“Bitcoin has gone up, on average, 170% every year for the past 11 years,” Miller said in the interview, citing that it has gone down by more than 80% three times during that time frame — making the currency highly volatile. But that volatility didn’t deter the founder and CIO of the investment advisor Miller Value Partners.
Miller started rebuying it at around $30,000 in the spring of 2021 after first purchasing bitcoin around the $200 mark. “My reasoning is that there’s a lot more people using it now, there’s a lot more money going into it in the venture capital world, and there are a lot of people who are skeptics who are now at least trying it out," he said in the interview.
In addition to the “fair amount” of bitcoin he bought when it was worth $30,000, Miller also said he has added to bitcoin-related investments such as in the bitcoin mining firm Stronghold Digital Mining and the software tech firm MicroStrategy. Per the interview, the remaining half of his portfolio is chiefly held in Amazon, for which Miller was an early investor.
As cryptocurrencies become increasingly mainstream, regulators, the media and policymakers are paying more attention to the financial crime risks associated with them. But what are the biggest compliance challenges crypto firms face, and what does a best practice AML program look like?
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
TRON DAO has announced the launch of a $10 million incentive fund in light of recent events to support Terra developers migrating to the TRON ecosystem, including TRON’s EVM compatible cross-chain solution BitTorrent Chain (BTTC), which helps facilitate the seamless transfer of assets across mainstream public chains, including TRON, Ethereum, and BNB Chain.