{"id":11896,"date":"2021-09-08T23:54:09","date_gmt":"2021-09-08T23:54:09","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/bill-millers-hedge-fund-sees-bitcoin-having-significant-upside-potential-as-digital-gold\/"},"modified":"2021-09-08T23:54:09","modified_gmt":"2021-09-08T23:54:09","slug":"bill-millers-hedge-fund-sees-bitcoin-having-significant-upside-potential-as-digital-gold","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/bill-millers-hedge-fund-sees-bitcoin-having-significant-upside-potential-as-digital-gold\/","title":{"rendered":"Bill Miller\u2019s Hedge Fund Sees Bitcoin Having \u2018Significant Upside Potential\u2019 as Digital Gold"},"content":{"rendered":"

In a report filed with the U.S. Securities and Exchange Commission (SEC), the fund managers for the Miller Opportunity Trust, Bill Miller\u2019s hedge fund, state that \u201cbitcoin has significant upside potential as a form of digital gold.\u201d The report details that despite its volatility, bitcoin\u2019s \u201crisk-reward is attractive.\u201d<\/strong><\/p>\n

Hedge Fund Manager Sees Bitcoin\u2019s \u2018Significant Upside Potential\u2019<\/h2>\n

Miller Value Funds\u2019 semi-annual report for the Miller Opportunity Trust, filed with the U.S. Securities and Exchange Commission (SEC) last week, states:<\/p>\n

We believe bitcoin has significant upside potential as a form of \u2018digital gold.\u2019<\/p>\n

The Miller Opportunity Trust hedge fund has $2.72 billion in assets under management (AUM) as of July 31. Its portfolio managers are Bill Miller and Samantha McLemore.<\/p>\n

\u201cWe have been observers of bitcoin for a long time and during the quarter, the fund received approval to invest in Grayscale Bitcoin Trust (GBTC), which is an open-ended grantor trust fully invested in bitcoin,\u201d the report details. \u201cIn the quarter, as bitcoin fell, the trust traded at one of its larger discounts to its underlying holdings in bitcoin providing additional upside potential.\u201d<\/p>\n

As of June 20, the fund holds 1.5 million shares of Grayscale Bitcoin Trust (GBTC) valued at $44,715,000, the report filed with the SEC shows.<\/p>\n

<\/p>\n

The fund managers added, \u201cWith gold\u2019s market capitalization greater than $11 trillion, bitcoin\u2019s current cap close to $600 billion would have a long way to go to catch up,\u201d elaborating:<\/p>\n

We are early in a continuing adoption curve and bitcoin will be volatile but we think the risk-reward is attractive.<\/p>\n

Veteran investor Bill Miller has long been a bitcoin proponent. In May, when the price of bitcoin fell from $58K level to below $34K, he said it was \u201cpretty routine<\/a>.\u201d Miller added that the correction was \u201cright in line with moves we have seen many times in bitcoin.\u201d In April, he disagreed with some analysts that bitcoin was in a bubble. Instead, he said bitcoin was entering the mainstream<\/a> as demand grew faster than supply.<\/p>\n

Do you agree that bitcoin has significant upside potential as digital gold? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nMarkets and Prices, bill miller, bitcoin digital gold, bitcoin upside potential, hedge fund, miller opportunity trust, miller value funds, opportunity trust, value fund<\/p>\n","protected":false},"excerpt":{"rendered":"

In a report filed with the U.S. Securities and Exchange Commission (SEC), the fund managers for the Miller Opportunity Trust, Bill Miller\u2019s hedge fund, state that \u201cbitcoin has significant upside potential as a form of digital gold.\u201d The report details that despite its volatility, bitcoin\u2019s \u201crisk-reward is attractive.\u201d Hedge Fund Manager Sees Bitcoin\u2019s \u2018Significant Upside…<\/p>\n","protected":false},"author":0,"featured_media":11897,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-11896","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11896"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=11896"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11896\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/11897"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=11896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=11896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=11896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}