‘I don’t think this is a bubble at all in bitcoin…this is ‘the beginning of a mainstreaming of it’ says stock-market pro Bill Miller

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Bill Miller says that he views the bitcoin market as just in its infancy, with demand for the digital asset far outweighing its current supply --- a key...

“ “I don’t think this is a bubble at all in bitcoin, I think this is now the beginning of a mainstreaming of it.” ”

The star fund manager at Miller Value Partners said that he views the bitcoin market as just in its infancy, with demand for the digital asset far outweighing its current supply—a key factor in its rise to near records, despite a recent pullback over the weekend. Bitcoin prices BTCUSD, -0.91% are up over 90% so far in 2021, even after a weekend pullback which lost around 20% of its value from a high near $65,000. Over the past 12 months, bitcoin prices are up by about 720%. By comparison, the Dow Jones Industrial Average DJIA, +0.67% and S&P 500 SPX, +1.09% are up around 10% so far this year and are both up by over 40% over the past year, FactSet data show.

 

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