фото показано с : blokt.com

As soon as Bitcoin showed some signs of recovery and talks about Bitcoin ETFs started taking over the market, several crypto experts began commenting on the future of the cryptocurrency. The latest among them is Miller Value Partners’ CIO, Bill Miller. In a recent interview with Bloomberg, Miller adopted a mixed stance on the crypto markets, calling most digital currencies worthless. He, however, said that Bitcoin is “interesting.”

As the first cryptocurrency in the world, Bitcoin has several advantages over the others. It is the primary model on which several cryptocurrencies are based. The coin has gained widespread acclaim over the years and has a proven price chart, trends, etc. that most investors can bank upon.

The same isn’t true for a majority of cryptocurrencies. Most of them are born via initial coin offerings, which are themselves a controversial way to raise funds. Overall, when comparing Bitcoin with other cryptocurrencies, the world’s oldest currency has many advantages.

When Joe Wiesenthal, host of the Bloomberg show What’d You Miss?, asked Miller how a fair valuation of Bitcoin could be formed, he said that it could be valued as a noncorrelated asset, quite like gold. It has an advantage over the shiny yellow metal because it can be transported easily and be used to buy things, i.e., it has a use as a store of value.

Miller’s responses on the show were informed, balanced and unbiased. While several bulls and bears are stating bullish (and equally bearish) things about the crypto market, what Miller says appears to be grounded in hard facts.

He also pointed out that Bitcoin enthusiasts should check the gold market, analyze Bitcoin against gold and calculate what percentage of that market can Bitcoin realistically achieve. Miller believes that even if Bitcoin achieves a third of gold’s value, central banks would change their negative stance and start viewing the virtual coin as a potential asset. This will improve the market value further.

He also called Bitcoin a “positive expectation” lottery ticket, citing that everybody can afford to lose 1% of their money, but it is uncommon to find that 1% earns 10, 20 or 50% in a few years. Miller stated that Bitcoin is the most stable cryptocurrency and has the highest chance of being successful.

Billionaire Calls BTC Interesting, Shuns Other Cryptos was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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