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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Billionaire Investor Says Crypto Outlook Is ‘Very Bullish’ For Bitcoin

Christian Encila
Christian Encila
3 years ago
3 mins read
crypto outllook

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Billionaire Bill Miller, a seasoned billionaire investor, explains why he believes the current crypto outlook is very positive for Bitcoin.

Miller likens Bitcoin to digital gold when it comes to the digital currency. Other cryptos are simply “adventure investments” since they lack the uniqueness of Bitcoin, he said.

A fund manager, Miller highlighted that nearly half of Russia’s reserves are held in currencies controlled by individuals seeking to do them damage.

Miller, a co-founder of Miller Value Partners, spoke on the future of crypto in the face of Russia’s ongoing invasion of Ukraine.

Related Article | Criminal Whales Hold $25 Billion In Crypto Assets: Chainalysis Report

Crypto Outlook Favorable For Stakeholders

“The rest of crypto is a different story,” he said. The remainder of the cryptos could be called “adventure investments” since he believes they are all attempting to tackle different challenges.

The renowned value investor has been a long-term advocate of bitcoin. Last month, he revealed he had “a substantial” amount of bitcoin, and compared it to digital gold as a hedge against inflation.

He also referred to the current crypto outlook and Bitcoin as “insurance against financial disaster.”

Miller’s deep knowledge of investing and the stock market holds weight because of his vast business experience.

BTC total market cap at $740.14 billion in the daily chart | Source: TradingView.com

Russian Sanctions Good For Bitcoin?

Russia has 16% of its $640 billion in reserves in dollars, with 32% of assets denominated in euros.

According to Miller, they have 22% of their reserves in gold, which is the only component other nations cannot seize. He said:

“I believe this is very bullish for bitcoin.”

Several nations have slapped Russia with all sorts of sanctions since it attacked Ukraine.

As a result, the Russian currency and the stock prices of Russian enterprises listed on foreign exchanges have fallen precipitously.

European Union Commission President Ursula von der Leyen did not mince words, last week:

“We will paralyze the assets of Russia’s central bank.”

This announcement is expected to result in transactions being suspended and, in effect, will render the central bank unable to dispose of its assets.

War Drives Bitcoin Up: Devere CEO

Meanwhile, the CEO of Devere Group, Nigel Green, also shares the same level of optimism and has predicted that bitcoin’s price will reach $50,000 by the end of this month if the current outlook for the crypto is to be the gauge.

Bitcoin is now trading at $39,007. Green believes that the dollar’s standing as a global reserve currency might be threatened if viable and practical alternatives, such as cryptocurrency, emerge.

Related Article | Bitcoin Staggers After Putin’s Nuclear Deterrence Alert Warning

He said that the conflict between Russia and Ukraine has prompted people, corporations, and government agencies throughout the world to explore “alternatives to traditional systems” in response to the war.

According to Green, Bitcoin is now the 14th most valuable currency in the world, and he thinks it will rise much higher in the rankings in the coming months.

He said:

“Smart investors recognize this and will increase their exposure to cryptocurrencies before prices further climb.”

The Devere boss believes geopolitical tensions and institutional investors are driving the price of the (still) most sought-after crypto in the world.

Featured image from Bitcoin News, chart from TradingView.com
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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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