Miller said Bitcoin “functioned without the Fed and without any interference” during times of market turmoil, concluding that “it’s an insurance policy, the way I look at it.”
Bill Miller the billionaire founder and Chief Investment Officer of investment firm Miller Value Partners, has said he considers Bitcoin (BTC) an “insurance policy against financial catastrophe.”Appearing on an episode of the “Richer, Wiser, Happier” podcast on May 24 Miller backed the cryptocurrency as a means for those caught in conflict to still access financial products. He used the collapse of financial infrastructure in Afghanistan after the US withdrawal in August 2021 as an example.“When the US pulled out of Afghanistan, Western Union stopped sending remittances there or taking them from Afghanistan, but if you had Bitcoin, you were fine. Your Bitcoin is there. You can send it to anybody in the world if you have a phone.”M
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