Bill Miller IV, Chairman and CIO of Miller Value Partners, discussed his current outlook on Bitcoin during an interview on BMTV. Despite market sentiment reaching levels comparable to the FTX-era lows, Miller maintains a bullish stance on the asset.
Miller highlighted recent price fluctuations, noting that Bitcoin moved from $63 000 to $87 000 and subsequently back to $68 000 within a few months. He characterized this volatility as a necessary cost for holding high-performing assets.
Comparing Bitcoin to gold, Miller argued that the cryptocurrency is more scarce due to its supply growth rate, which currently stands at 80 basis points per year. He also suggested that the total addressable value of Bitcoin significantly exceeds its current market capitalization.
