Bill Miller’s MVP 1 fund is now half invested in bitcoin, his biggest single concentration of an asset in an investment fund. Miller launched Miller Value Partners in 2016 after working for 35 years at Legg Mason. He managed a fund there that surpassed the S&P 500 for 15 years through 2005. Miller has a reputation for concentrating bets, but he has never invested half of a fund on one asset. He invested 20 percent in AOL at one time, close to that amount in Dell, and 10 percent in Fannie Mae.
Miller’s fund was nearly a third invested in bitcoin in late October, The Wall Street Journal reported, with around $154 million in assets. Bitcoin at the time was trading near $6,000. Bitcoin has since more than tripled, surpassing the $19,000 mark as investor interest has grown. Miller’s company manages $2.2 billion, including separate accounts for mutual funds and high net worth individuals.
Read more from the source here...To have invested half of your fund into just one single asset -- Bitcoin -- is one of the biggest show and vote of confidence for the future of the said asset. I am sure that Bill Miller had never became a billionaire at that if he is a dumb investor...he is all intelligent and always in the loop of the things going on. With this development, am sure he have done his due diligence and came into the conclusion that Bitcoin has a great future ahead and that it can give him the most return-on-investment he wanted. Should we then listen to Bill Miller or those naysayers who have not proven anything under their own name? The answer is yours to make, ladies and gentlemen.
