As the cryptocurrency market begins to move back into green territory with Bitcoin (BTC) leading the way, the flagship digital asset has no shortage of vocal supporters, including early Amazon investors ( NASDAQ: AMZN) Bill Miller III.
Specifically, Miller believes that BTC is “very different” from companies like FTX and Celsius Network, whose failure has excluded many would-be crypto investors, as he explained in an interview and “Closing Bell.” via CNBC in January. 6. According to a famous businessman:
“The failure of FTX, it is a centralized transaction, like Celsius, I think it is very important to understand that Bitcoin is very different from that.” In addition, Miller drew attention to the problems in traditional markets during this epidemic, when they run for the maximum amount of water, the Federal Reserve will step in and throw them a way of life, according to Bitcoin .
“The Fed should step in and wipe out these markets by injecting huge amounts of money, BTC is trading 24/7/365. There is no problem with the Bitcoin market.
What about change? Comparing Bitcoin to the traditional market, a well-known investor has long criticized the exchange rate of the first crypto asset, explaining that “the market is 70% higher and BTC is 190% higher. (…) In” In the last month or so, it is less volatile than the market.
A well-known Bitcoin bull, Miller previously expressed surprise at the “remarkable” performance of the largest digital asset by market capitalization despite recent scandals, such as the FTX implosion and the arrest of its founder Sam Bankman -Fried. crypto industry, as reported by Finbold. A respected investment expert with a portfolio that beat the S&P 500 Index from 1991 to 2005, Miller recently announced shares in crypto investment firm Silvergate Capital (which fell 40%) recently in the pile the issue of Coinbase crypto trading.
Bitcoin Price Analysis
Meanwhile, Bitcoin is trading at the time of the report at a price of $ 17,273.91, up 0.01% on the day, and registering a 3.16% increase on the week, adding value. 0.67% in its monthly chart. Meanwhile, Bitcoin’s market capitalization stands at $332.66 billion, with a 24-hour trading volume of $15.82 billion (915,557 BTC), according to Finbold data released by crypto tracking platform CoinMarketCap on January 10.
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