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   1071

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".

Mt. Gox CEO to be Found Guilty of Falsifying Docs

Mark Karpeles has a suspended term of four years ahead to prove his reliability and to avoid a real imprisonment
15 March 2019   120

The Tokyo District Court convicted the former CEO of the Mt.Gox bitcoin exchange, Mark Karpeles, of falsifying documents and sentenced him to two years and six months in prison. Nevertheless, Karpeles has a suspended term of four years ahead to prove his reliability and to avoid a real imprisonment. Reported by The Block.

Note that the prosecutor's office demanded 10 years in prison, however, on charges of embezzlement and violation of corporate law, Karpeles was found not guilty.

Karpeles and his lawyers intend to assess the situation and develop a strategy for action on the charges.

Earlier, the Illinois court rejected the petition of the lawyers of the former head of Mt.Gox to suspend the proceedings against him in the United States. So, American investors Gregory Green and Anthony Motto demand that Carpeles be personally responsible for the loss of their investments.

Once the largest Bitcoin exchange Mt. Gox crashed in early 2014. This happened after the information appeared about its alleged hacking and theft of 800,000 BTC ($ 480 million at that time). In December last year, Carpeles, during his closing speech at a Tokyo court, called himself innocent of the events that caused the millions of client losses and the company's collapse.