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Mutual fund legend Bill Miller told CNBC on Friday that the risks of bitcoin going to zero are “lower than they’ve ever been before” and he predicted more institutional investments in the cryptocurrency.
“The story of bitcoin is very simple, it’s supply and demand,” Miller said. “The supply of Bitcoin is growing about 2.5% per year and the demand is growing faster than that.”
On Friday, Miller warned of the “return” of inflation with the Federal Reserve “firing at the money supply” and future tax relief coming from Congress.
Miller, who serves on the Baltimore-based Johns Hopkins University Endowment Investment Committee, said the endowment chief investment officer told him “everyone will want to own at least some bitcoin” because of his. asymmetric properties “.
“[The endowment] it may never own bitcoin, “Miller said. However,” for a university endowment this is a bold statement, “he added.
