Famous American investor Bill Miller is convinced that bitcoin is the best and the most stable crypto currency, which in many of its characteristics is similar to gold. This is reported by Bitcoinist.
The investor believes that the digital currency market is still emerging and it is therefore difficult to predict its further development. In general, Miller views crypto-currencies as an interesting technological experiment. According to him, it will be very interesting when "big money" of institutional investors comes to this market.
However, Bill Miller is an obvious bitcoin-maximalist who believes that altcoins are of little use.
Most of them [cryptocurrencies] are probably worthless. Bitcoin is the most stable of the currencies. I think it has the greatest probability of being successful. There are others that people like, but that’s the only one I’m interested in.
Miller also believes that bitcoin is good because it is a non-revertible asset, which in many respects is similar to gold. However, he notes, the first cryptocurrency has a number of advantages over this precious metal. In particular, bitcoin is much more transportable and better serves as a means of exchange.
And yet, despite the advantages listed, Miller believes that bitcoin has not yet become an effective payment system or a viable currency. The investor also expressed the opinion that if the bitcoin capitalization had reached at least a third of the total market value of gold, then banks would certainly consider the crypto currency as a reliable asset.
The first investment in the cryptocurrency Bill Miller made back in 2014, investing 1% of its net assets. Now the founder of Miller Value Partners is already far beyond 60 and he calls himself "bitcoin expert".