BTC is the Most Stable Crypto, Bill Miller Says

The first investment in the crypto currency Bill Miller made back in 2014, investing 1% of its net assets
30 July 2018   356

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.
 

Bill Miller

Cryptoinvestor

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".

Crypto Billionaire to Lost 5.5k BTC Due to Fraud

Thai scammers convinced 22 yo Finnish crypto billionaire to invest in their 'investment' scheme
13 August 2018   290

The 22-year-old cryptocurrency millionaire lost more than 5,500 bitcoins after taking part in the investment scheme in Thailand. The case attracted public attention because of the possible participation of a Thai actor. This is reported by Bangkok Post.

A group of scammers in June 2017 persuaded Finnish businessman Aarni Otawa Saarimaa to invest in several Thai securities, a casino in Macau and a crypto currency called Dragon Coin.

Scammers claimed that Dragon Coin could be used in Macau casinos. In addition, they brought Saarimaa to this casino to demonstrate the legitimacy of their project. Saarimaa transferred 5 564 BTC to fraudsters.

In January, without receiving any income for his investments, Saarimaa filed a complaint with the Crime Suppression Division's (CSD), along with his local business partner, who believed that this investment scheme was fraudulent.

CSD began to investigate the case and stated that the group made no investment for Saarimaa, instead transferring all the bitcoins to Thai baht and placing these funds on seven bank accounts.

Although it is not clear when exactly the scammers sold the bitcoins, CSD announced that they raised about 800 million baht or about 24 million dollars.

Then followed a months-long investigation, according to which CSD began to suspect that the Thai film actor Jiratkisit "Boom" Jaravijit also took part in the fraudulent scheme - he was arrested last Wednesday.

In addition, the CSD stated that it suspects the actor's brother, Princess Jaravijit, as the "instigator" of this entire scheme. He left Thailand, traveling to South Korea, and then to the United States. According to the Bangkok Post, CSD is currently working with the US to track him down.