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President Miller Value Partners (MVP) and CIO Bill Miller reiterated their confidence in Bitcoin while publicly expressing their suspicions about Ripple.
Miller consolidates its holdings in Bitcoin
Talking about CNBC In an interview released on January 9, Miller, whose fund began buying Bitcoin in 2014, said he has since "misled" his holdings in Bitcoin and Bitcoin Cash in a separate fund.
"We have maintained a ten percent weighting in Bitcoin and Bitcoin Cash together, and the other 90 percent is now in a separate fund," he told the network.
Partners can decide what to do; they can keep it, they can sell it, they can put the money back into the hedge fund, whatever they want.
Average purchase price of MVP for bitcoins 00 it was only $ 350, Miller revealed.
Although 2018 has become notoriously difficult for hedge funds, many have tried to wait for the current bear market through cryptocurrencies in the hope of an influx of institutional activities in the coming year.
The influx should start later at the beginning of 2019 with the launch of the Intercontinental Exchange Bakkt platform, which will initially offer physically delivered Bitcoin futures. The company announced it had raised $ 182.5 million last week.
Ripple & Overdone, Let & # 39; s Just Say & # 39;
Asked about the interest in the altcoins, meanwhile, Miller said that MVP "had not made the decision" to offer other criptoassets. Singling out Ripple (XRP) 00, the executive appeared suspicious, questioning the transparency of the project and the associated company Ripple.
"If you look at something like a Ripple, I think it's too much, let's say," he continued.
The XRP thing should not be used on the Ripple network; you can use other things … If you look at Coinmarketcap.com, it is said that there are 38 billion, but in reality there are about 100 billion because the company has held back 61 billion in its budget.
Miller is far from alone in his skepticism about Ripple and XRP in particular. Such as Bitcoinist reported, both entities continue to attract criticism of their alleged relationship to each other and the presence of gigantic social media monitoring and addressing negative opinions.
What do you think of Bill Miller's opinions on Bitcoin and Ripple? Let us know in the comments below!
Images courtesy of Shutterstock, CNBC
