Bill Miller recommends buying bitcoin (BTC) and…

Famous American investor and fund manager Bill Miller was a special guest at the Forbes SHOOK Senior Advisor Summit, which recently took place in Las Vegas, Nevada. The possibility of him reiterating his support for the crypto industry despite the bear market. Bill is one of the biggest crypto optimists. He has already publicly stated that gold is obsolete and bitcoin (BTC) will take its place. In his intervention he said that the market currently offers opportunities and asks the community to take advantage of them. What are these possibilities?

Bitcoin (BTC) and stocks

Speaking at the conference, Bill Miller said treat new developments in the crypto industry. He urged investors to take advantage of many cryptos trading at low prices to buy some. Thus, he identified bitcoin (BTC) as a promising asset for the coming years. He then identified other investment opportunities outside of crypto. It is about the shares of companies that have performed poorly this year and whose prices have fallen significantly. For him, the recovery of the market will be interesting for the growth of these stocks. Generally, these are companies with strong free cash flow trends. But their stock values ​​trade at discounted prices.

These include Norwegian Cruise Line Holdings, ride-sharing service Uber, Delta Airlines, Clear Secure, Silvergate Capital and Chesapeake Energy.

He commented on the intervention of the investor

“The prices of these shares have fallen significantly. The perspective is that if your time horizon is longer than a year, you should do very well in the market.”, he declared. One participant drew attention to the uncertainty factors hanging over the markets. To this he replied: “Be greedy when others are afraid”.

Bill Miller criticizes the US Federal Reserve

Later in his speech, Bill Miller criticized the Federal Reserve’s policy throughout the year.

“The central bank played hard with inflation. It is psychologically behind the realities of the market. It is reacting to economic data rather than focusing more on real-time or distant indicators (…) Unfortunately, these signs suggest that it may be too far to raise interest rates.”he explained.

For him, the decisions of the institution have greatly contributed to the impact of the crypto market and the economy in general.

Bill Miller is a crypto advocate and long-time bitcoin (BTC) buyer. He reiterated his point upbeat for the industry, which he described as “misunderstood”. Separately, he said that if the Fed tightens monetary policy too much, bitcoin (BTC) will likely do better than most of the market.

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Avatar Luc Jose Adjinacou
Luc Jose Adjinacou

No less than it dampened my enthusiasm, an unsuccessful investment in a cryptocurrency in 2017 only increased my enthusiasm. Therefore I decided to study and understand the blockchain and its many uses and transmit with my pen information about this ecosystem.

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