The increased adoption of bitcoin generally by institutional investors has been another factor credited with helping propel its ascent. And some people, such as prominent value investor Bill Miller, believe the digital coin has"Bitcoin's total supply is growing less than 2% a year and it's obvious by the price that the demand is growing much, much faster than that," Miller told CNBC on Friday.
Gundlach, in explaining his current stance toward bitcoin, said Monday he was concerned investors have become too optimistic. "I think all of these things are kind of baked in right now, and the trade location is poor," he said. "Even the dollar, I've been very negative on the dollar since January of 2017 but I actually turned neutral on the dollar a little bit lower than where we are right now ... just because these things seem like they've gotten too deeply into the consensus narrative."
"There's times when ... people seem to be so much on one side of the boat that I just really don't believe the boat can sell that well," Gundlach added, "and I believe that's where bitcoin is on the bullish side right now."
This is rich. 100T in zero to negative yielding paper worldwide, and the bond king doesn't like an asset with a decade plus run of 150%+ CAGR? Go figure
Who?
is this a Jan 2011 or a Jan 2021 repost? You need to disguise your FUD better ROTFLMAO Bitcoin
You mean the same Gundlach that called a retest of the s&p in April and was dead wrong? Oh yea, he's credible
no shit
🤣🤣🤣 BUY THE DIP! Bitcoin
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.