In a report filed with the U.S. Securities and Exchange Commission (SEC), the fund managers for the Miller Opportunity Trust, Bill Miller’s hedge fund, state that “bitcoin has significant upside potential as a form of digital gold.” The report details that despite its volatility, bitcoin’s “risk-reward is attractive.”
Hedge Fund Manager Sees Bitcoin’s ‘Significant Upside Potential’
Miller Value Funds’ semi-annual report for the Miller Opportunity Trust, filed with the U.S. Securities and Exchange Commission (SEC) last week, states:
We believe bitcoin has significant upside potential as a form of ‘digital gold.’
The Miller Opportunity Trust hedge fund has $2.72 billion in assets under management (AUM) as of July 31. Its portfolio managers are Bill Miller and Samantha McLemore.
“We have been observers of bitcoin for a long time and during the quarter, the fund received approval to invest in Grayscale Bitcoin Trust (GBTC), which is an open-ended grantor trust fully invested in bitcoin,” the report details. “In the quarter,