Tag Archives: Nasdaq

Bitcoin ‘Bubble Is Necessary’ To Test Endurance

Bill Miller, multi-millionaire investor and founder of hedge fund Miller Value Partners, shared his positive view on the cryptocurrency market sell-off and talked about why it should not scare investors in a FOXBusiness exclusive interview Feb. 28. While many on Wall Street are worried that cryptocurrencies are a bubble worse than the Nasdaq in 2000, and some even forecast Bitcoin dropping to as low as $1,000 this year, Miller says that the market actually needs this “bubble” to find out whether the idea of this new technology can be adopted. “Bubbles are necessary to bring capital into the market to see if these innovations are actually going to stand,” the famous investor argued, citing the idea of ‘Diffusion Of Innovations’ by Everett M. Rogers.

Reference: https://cointelegraph.com/news/bitcoin-bubble-is-necessary-to-test-endurance-says-hedge-fund-founder-bill-miller