Bill Miller, a legendary investor and one of the most successful people in finance has invested 50% personal funds into

[CryptoMund]

https://cryptomund com/posts/Bill-Miller-a-legendary-investor-and-one-of-the-most-successful-people-in-finance-has-invested-50%25-personal-funds-into-Bitcoin-Altcoins-p233

This comes as no surprise given how heavily versewidenments are hedging their investments with strategies like shorting Bitcoins or investing money into bitcoins which have been gaining traction lately due to increased mainstream interest from companies such as Microsoft Corp., Amazon Studios & Googlego Inc..



Miller is a veteran investor who has been investing in cryptocurrency since 2014. He first became interested when other venture capital firms were doing so as well, and bought up all of his favorite coins last spring during their popularity spike among investors. He knows that if you're going to make your money work for you then there's no better time than right now.



Miller believes that the average investor should consider what they have in their portfolio to be able provide insurance against financial catastrophe. The only thing an individual is likely carrying as protection for such events, according to him it's "nothing."



https://www.youtube com/watch?v=OqarSxZDy1k



In an interview with the Financial Times, Miller said his crypto investments go against many of the tenants' (i.e., traditional finance) but they also turn out highly profitable. He explained that the whole idea behind this venture was to take advantage when there's a significant disruption in something where people haven't been able yet establish rules - referring specifically to cryptocurrencies like Bitcoin which have seen immense growth over recent years due largely from its anonymity features. He says Amazon's Jeff Bezos is one such individual heavily concentrated in stocks and other rich people like Mark Zuckerberg also follow suit as their wealth increases due to this new technology-driven investing trend known as "crypto trading."



Miller explained the reason why he invested so heavily in cryptocurrencies after listening to a speech by Wences Casares, CEO of crypto wallet Xapo speak at a conference. Bitcoin is meant as protection against hyperinflation and nationalization of banks; it also provides an escape route during times when governments seize their assets - all due largely thanks to its decentralized nature that cannot easily be controlled by one person alone.



He says he bought more than USD 500 worth of this cryptocurrency in 2014, and then stopped buying it for years until last spring when prices hit an all-time high. His purchase price was over 66 thousand dollars but after four weeks they were down below 50%.



When speaking to Miller, he started buying bitcoin again at USD 30K - his reasoning being that there’s a lot more people using it and money is coming from the venture capital world.

[WalletInvestor]

Sorry, it's not clear to me, what did he invest 50% of his capital into?

Anyways, I agree with his opinion in that having an investment portfolio (and a well diversified one at that) can offer great financial protection, especially against things like inflation. I'm sure a lot of people indeed have nothing of the sort, but we also need to consider that a lot of people may not have the means to invest a significant amount.