Legendary Investor Bill Miller’s Bitcoin Position Is ‘Very Big’

Legendary value investor Bill Miller reiterated in a Wednesday interview that holding bitcoin is akin to having insurance against financial catastrophe, echoing comments he made last month as he disclosed that bitcoin comprised half of his fortune.

Miller explained that bitcoin doesn’t account for 50% of his portfolio any longer given the digital currency’s price decline over the past couple of months. However, he said his allocation to bitcoin still is “very big.”

“It’s like an insurance policy,” the chairman and chief investment officer of Miller Value Partners said, according to a Markets Insider report.

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