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Bill Miller says he's started a separate bitcoin fund, believes ripple run has gone too far

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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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Arun Jaitley has just killed India’s cryptocurrency party

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It appears to be the end of the road for cryptocurrencies in India. Finance minster Arun Jaitley, in his budget speech today (Feb. 01), stated that the government will do everything to discontinue the use of bitcoin and other virtual currencies in India. He reiterated that India does not recognise them as legal tender and will instead encourage blockchain technology in payment systems. “The government does not recognise cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system,” Jaitley said. This declaration comes after months of speculation over the fate of cryptocurrencies in India, home to a large number of bitcoin traders and investors. In fact, one in every 10 bitcoin transactions in the world takes place in India. “The government will now either come out with a legislative mechanism or make suitable amendment in existing legislatio...
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Why Ripple and Other Cryptocurrencies Are Crashing Right Now

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For the second time in less than three weeks, cryptocurrencies suffered a major correction. The 16 largest cryptocurrencies all saw major price declines over the past 24 hours, according to data from Coinmarketcap.com. Ripple, the third-largest digital currency, saw its price fall as much as 39% at one point. Bitcoin, the granddaddy of the crypto universe, saw its price fall as much as 14% on Monday. And Ethereum, the second-largest cryptocurrency which has gained in popularity among businesses, dropped 12%, before rebounding somewhat. The question is why? Market watchers say you can point to one of three reasons: Blame it on Korea. Investors are pointing to South Korean regulators as a possible reason for the latest declines. One of the greatest strengths — but lurking weaknesses — of cryptocurrencies is that they are largely unregulated by governments. This allows people to use them anonymously, which is also why criminals have taken to the online monetary system. ...
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