Billionaire Bill Miller calls Bitcoin 'insurance' against financial catastrophe

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Billionaire investor Bill Miller has taken aim at Mike Novogratz’s LUNA tattoo and Bitcoin-hating Warren Buffett: “The objective of investing is not to own productive assets, the objective is to make money.”

Bill Miller the billionaire founder and Chief Investment Officer of investment firm Miller Value Partners, has said he considers Bitcoin an “insurance policy against financial catastrophe.”on May 24 Miller backed the cryptocurrency as a means for those caught in conflict to still access financial products. He used the collapse of financial infrastructure in Afghanistan after the US withdrawal in August 2021 as an example.

Miller said examples of how the crypto can function as insurance don’t “have to be all or nothing” and noted how Bitcoin performed during the early stages of the pandemic and the“When the Fed stepped in and started gunning the money supply and bailing out, in essence, the mortgage rates […] Bitcoin functioned fine. There was no run on Bitcoin. The system functioned without the Fed and without any interference.

 

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Every investor has such a goal, so it's not surprising!

Your investments should expand and enrich you, thanks to Roberta Robertaofficia_ crypto has been my main source of income

Do you want to be right, or do you want to make money?

The object of owning productive assets, particularly in crypto, is to replace the current form of money.

focussing only on making money is what wrong with the world. the goal from investing is supporting projects for a better future... and secondly making money. money come second. i see no problem to fall in love with asset if their are making a good comon future.

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