Bill Miller allocates 50% of portfolio towards Bitcoin In his WealthTrack interview last Friday, Bill Miller shared his thoughts on Bitcoin. At the end of the interview, the long time value investor states that Bitcoin provides a “service of insurance against financial catastrophe that no one else can provide.” He then stated that he has allocated 50% of his investment portfolio into Bitcoin and other Bitcoin related assets, like MicroStrategy. He claims to now be a Bitcoin bull instead of just an observer. Even with the current fear in the market over Bitcoin, he is still bullish in the long-term. Store of wealth Many who buy Bitcoin view it as…
Weekly Bitcoin Review
After an exciting 2021, what will the new year bring for crypto?
2021 was undoubtedly a historic year for Bitcoin and cryptocurrency. Bitcoin hit a new all time high, saw adoption from nations and corporations alike, and gained attention from several nations across the globe. That isn’t to say there weren’t setbacks: Major crashes, millions of USD in longs liquidated. The world also saw increasing anti-crypto legislation and pushback from politicians in India, The United States, and China. Not the ending to the year that everyone was hoping for Bitcoin unfortunately did not live up to expectations this year. Many thought that 2021 would be the year it hit $100,000, and were disappointed to see it end the year around just a…
Weekly Bitcoin Review
El Salvador buys the dip, The Omicron variant, and Microstrategy buying more Bitcoin
Omicron Many countries have begun enacting new travel restrictions in response to the new Omicron Covid-19 variant that was announced last week to be spreading in South Africa and elsewhere. These restrictions and global panic over the virus lead to a tank in the price of BTC, hitting a price of $53,569.76 on Friday. This is the lowest price BTC has seen since October 6, leading many to fear that the coin would continue to plummet in price. It has since recovered to the $57,000 price range, hitting a high of $58,872.88 earlier today, since the drop in price. BTC is currently trading at a volume of $32.4 billion. The…
Markets Report: PlanB says Bitcoin price ‘Won’t stop at $100K’ despite price dip
Little interest in this week’s price retracement as attention focuses on a “game-changing” institutional adoption wave reportedly soon to hit the headlines
As for institutional adoption, “...I don't think, I know, starting more or less next week, you're going to see an absolute drumbeat of pretty game-changing milestones from some of these firms,” said NYDIG CEO Robby Gutmann.