Bill Miller, multimillionaire investor and founder of the Miller Value Partners hedge fund, has shared his positive view on the cryptocurrency market -off and talked about why he should not scare investors in an exclusive FOXBusiness interview Feb. 28.

Calling himself an "observer" bitcoin, rather than a "believer" or "evangelist" bitcoin, in interview Miller compared Bitcoin with other major inventions to through history, stating:

"What I've observed with bitcoin is that it follows a very ancestral path of disruptive innovation going as far as possible. 39, at the print shop, railway "

While many on Wall Street worry about the fact that cryptocurrencies are a worse bubble than Nasdaq in 2000, and that some even predict Bitcoin Miller says that the market really needs this "bubble" to know if the idea of ​​this new technology can be adopted.

"Bubbles are needed to bring in capital on the market. to see if these innovations will actually hold up, "argued the famous investor, citing the idea of" Diffusion Of Innovations "by Everett M. Rogers.

In December 2017, the same month, Bitcoin prices soared to record $ 20,000 per coin, Miller said that nearly 50 percent of his hedge fund's money was invested in Bitcoin In July 2017, Miller shared in an interview that he held a modest 1% of his own assets in Bitcoin since 2014.

Others on Wall Street do not share the same. Miller's upbeat opinion on cryptocurrencies In January 2018, banking giant Merrill Lynch banned its financial advisers from buying cryptocurrency-related investments for its clients, citing concerns over the currency's relevance. and the eligibility criteria of this product.