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   1774

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".

PBoC to Continue Anti-Crypto Propaganda

The regulator published a warning in its WeChat account called “Protection of the rights and interests of consumers of financial services”
23 March 2020   308

The People's Bank of China has returned to criticism of cryptocurrencies amid a worsening economic situation in the world.

On March 22, the regulator published a large-scale warning in its WeChat account under the heading “Protection of the rights and interests of consumers of financial services”. It describes three ways in which cryptocurrency service providers can mislead consumers.

First of all, the amount of fraud transactions with bots is serious. The average turnover rate of the top three overseas crypto currency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue.

 

People's Bank of China

In addition, the Chinese Central Bank calls the opinion that Bitcoin may serve as a protective asset, erroneous. The regulator indicates its high volatility and recommends that citizens not follow the example of other investors and refuse to participate in cryptocurrency trading.