Bill Miller says he's started a separate bitcoin fund, believes ripple run has gone too far
Bill Miller: We've spun our bitcoin holdings into a separate fund 9 Hours Ago | 01:51 Investor Bill Miller said he has split most of his fund's bitcoin holdings into a separate fund. The founder of Miller Value Partners said Tuesday on CNBC's "Closing Bell" that the fund had moved 90 percent of its bitcoin holdings to a separate fund, with the main fund retaining a 10 percent weighting in bitcoin and its offshoot, bitcoin cash. This is after the cryptocurrency's meteoric rise in value last year. CNBC reported in December that Miller said half the value of his fund was in bitcoin. He said they began buying bitcoin in 2014 or 2015, at an average cost of about $350. Bitcoin is currently trading near $14,935, according to CryptocurrencyMarket.com. Moving it to a separate fund allows investors to decide whether they want to continue to hold or sell it, he told CNBC. Digital currencies have grabbed a lot of attention from investors because of their qui...
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