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Legendary Fund Manager Bill Miller Believes You Should Have Bitcoin to Diversify Your Portfolio

Keeping all your eggs in one basket can be more harmful than good.



4 months ago | 2 min read


Keeping all your eggs in one basket can be more harmful than good.

Over the past several decades, the United States is entering a new era in technology and a similar reminder of inflation that the country has not seen in years.

As an investor, my first purchase was in technology stocks in the mid-1990s. I had a feeling technology would be a driving force.

Despite the early hiccups, strong tech stocks, such as Amazon, Facebook, Tesla, and others, are driving the stock market today.

Over the last decade, Bitcoin and other cryptocurrencies started to emerge. I joined in 2017 during the last bull run and saw the rise and fall of this volatile asset.

After patiently watching this market and understanding the global reach of this asset class, I adjusted my portfolio and focused more on this space along with a few high-flying tech stocks such as Tesla and oil stocks. These last two areas handled 2020 well in spite of the emergence of the coronavirus.

The stock market is trading in a sideways movement since the Federal Reserve announced tapering quantitative easing. In the cryptocurrency sector, the Federal Reserve’s announcement also had an effect.

Bitcoin has not shown a strong welcome to the Fed’s announcement. But there is a bright side to all the negative news.

Legendary Fund Manager Reveals His Bitcoin Holdings

News broke out over the weekend as legendary Veteran fund manager Bill Miller announced he had a position in Bitcoin. Miller actually bought his first Bitcoin in 2014.

In a video interview on Friday, Miller announced half of his portfolio was in Bitcoin. Last year, he started to add more Bitcoin to his portfolio after the cryptocurrency declined from about $69,000 to the $30,000 range.

Miller believes Bitcoin should be part of an investor’s portfolio.

“I think the average investor should ask himself or herself, what do you have in your portfolio that has that kind of track record — number one, is very, very under-penetrated; can provide a service of insurance against financial catastrophe that no one else can provide and can go up 10 times or 50 times? The answer is: nothing.”

Though Miller has a sizable portion in Bitcoin in his portfolio, he believes investors to hold at least 1% in Bitcoin. Adding Bitcoin helps give added diversification to your portfolio.

Bitcoin didn’t reach the six-figure mark in 2021 as some prominent investors anticipated. The emergence of inflation, the end of QE, along with COVID is sending mixed signals in this space.

Future weeks should give the Federal Reserve more insight into how the year will turn out especially with the rise of the Omicron variant which will have an effect on the workforce.

Workers were slowly returning to the office but this may be delayed as some companies are not requiring personnel to return to work.

With an uncertain 2022, the stock market could have some rough months ahead of us. Adding a little exposure to Bitcoin should give your portfolio a diversified portfolio. Bitcoin sometimes trades differently than the rest of the stock market.


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