Legendary investor commented on controversial cryptocurrency statements from JPMorgan CEO Jamie Dimon
During the Forbes / SHOOK Top Advisor Summit, legendary investor Bill Miller compared Bitcoin to a Ferrari and gold to a horse. As a result, Miller addressed JPMorgan CEO Jamie Dimon inflammatory views about cryptocurrencies, as well as China’s restrictive actions against digital assets and the crypto industry regulatory uncertainties in the United States.
The head of JPMorgan slammed bitcoin in a recent interview with Axios, claiming that the first cryptocurrency has no intrinsic value. At the same time, in an interview with the Times of India at the end of September, Daimon admitted that bitcoin had the potential to increase tenfold. Daimon also advised investors to avoid cryptocurrencies in May of this year.
Bitcoin was voted the top asset for inflation protection by Miller in July. In addition, the investor agrees that bitcoin is digital gold because it is more convenient to use than any precious metal.
With a return of 119 percent in 2019, Bill Miller Value Partners fund became one of the best in hedge fund history. The investor began purchasing bitcoin when they were only $ 300 a coin a few years ago. A large portion of the fund’s capital was derived from the rise in the value of the initial cryptocurrency.
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