HEDGE FUND LEGEND BILL MILLER PLANS $400 MILLION BITCOIN INVESTMENT!! BTC HITS NEW ALL-TIME HIGH!!

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This morning Bitcoin hit a new all-time high surpassing $44,000 per BTC.

Hedge fund legend Bill Miller is exhibiting an even larger appetite for Bitcoin. According to a Friday filing with the United States Securities and Exchange Commission, The Miller Opportunity Trust is seeking indirect exposure to BTC via the Grayscale Bitcoin Trust.

The planned investment is coming at a time when the GBTC premium is at its lowest level since April 2019.

If the GBTC shares acquisition does pull through, it will mark a significant departure from the usual investments in equities and derivatives for the $2.25 billion fund. Indeed, the trust’s website lists airlines, healthcare and financials among its core investment position focus.

With the fund’s Bitcoin exposure limited to 15% of its assets under management, the GBTC outlay could top $300 million. As part of the filing, the trust did comment on price volatility, stating, “There is relatively small use of Bitcoin in the retail and commercial marketplace in comparison to the relatively large use of Bitcoin by speculators.”

Miller is himself a noted Bitcoin proponent. Back in 2016, the legendary Wall Street investor committed 30% of his hedge fund into Bitcoin. This proportion has since increased to over 50% with the BTC play contributing to massive growth in the value of Miller’s hedge fund.

Back in January, Miller countered Warren Buffett’s infamous “rat poison” retort, by adding that cash was the rat in that instance. The comments echo sentiments espoused by Pantera Capital CEO Dan Morehead back in 2018 who said something akin to Bitcoin is rat poison because banks are the rats.

Bitcoin recently rallied to $40,000 over the weekend — its highest price level in almost a month. However, the move above $40,000 was met with a swift retrace below $38,000 with the largest crypto by market capitalization down almost 2% in the last 24-hour trading period.

In other trending Bitcoin News today:

"BlockTower Capital Co-Founder Predicts Just How Long Bitcoin Bull Run Will Last, Says Top Crypto Could Hit $400,000"

BlockTower Capital CIO and co-founder Ari Paul says he believes Bitcoin could potentially print over 10x gains within the next two years.

In a new tweet, blockchain investment firm executive tells his 149,000 followers that the bull market may last until the end of 2022 with Bitcoin poised to grow between 153% and 915% from its current price of $39,400.

“Time-wise, my guess is we have 9-22 months. Price wise – my guess is BTC ends the bull run between $100k-$400k.”

In a Real Vision interview with Bitcoin bull Raoul Pal, Paul explains that while he’s long-term bullish on Bitcoin, he believes altcoins will outshine the flagship crypto asset in the coming months.

“So if this bull market resembles those that came before it, and I think it likely will, the last third of the bull run, all coins, in general, are likely to outperform Bitcoin. And that’s happened every time in the past. It tends to happen in traditional markets, where you get– basically, lower-quality small caps outperform quality. And the reason is people’s risk tolerance grows.

There’s a greed element. They generate a lot – Bitcoin goes up 5x, people are now rich. They’re looking for their next 5x. And Bitcoin feels like it’s going to be hard to give it to them. So you start rotating into lower-quality assets, chasing that same high.”

As for timing the bull market top, the BlockTower Capital managing partner says he’s on the lookout for signs of extreme greed.

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Show Notes / News Resources:
- Bill Miller Bitcoin $400M: https://bit.ly/3tEw2ED
- $400K Bitcoin Prediction: https://bit.ly/3aOBr3q

DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky and so is investing into Cryptocurrency. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

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