Opinion: Bitcoin will cost a lot of money, or the price of it - "zero"

In a December 7 interview with CNBC, Miller Value Partners ' founder and chief information officer bill Miller said bitcoin would either have a high value or would not cost anything.

In an interview with Kelly Evans (CNBC), a well-known wall street investor called bitcoin "an interesting technological experiment," and also recalled that "there has been an annual trend of increasing bitcoin lows," since, according to him, last year the lowest bitcoin price fluctuated around $3200 compared to the current $4000.

He also stated:

"Bitcoin will cost a lot of money, or the price to it – zero".

Bill Miller noted another interesting feature of the markets, pointing out that the main cryptocurrency reached the "bottom" almost 52 weeks after its peak in December 2017, while the stock market lasted three to four weeks longer.

At the same time, Miller stressed that he includes cryptocurrencies in his portfolio because "there is no clear long-term correlation between the cryptocurrency markets and traditional markets, although their anti-phase growth and decline can be observed." At the same time, he called himself an "observer, but not a follower" of cryptocurrencies.

Back in 2014, it was known that bill Miller invested 1% of his funds in bitcoins. In December 2017, Miller said he had invested almost 50% of his hedge Fund's money in major cryptocurrencies. In September last year, his company Miller Value Partners has already managed assets of $2.89 billion.

He also belongs to the words that " bubbles are necessary to attract capital to the market and to understand whether such innovations will survive."