Billionaire Bill Miller predicts bitcoin to rise as the situation in Ukraine escalates

The founder of Miller Value Partners stated on CNBC that he sees a “bullish signal” for the crypto

04.03.2022 - 08:35

501

2 min

What’s new? Bill Miller, a well-known investor and entrepreneur, gave an interview to CNBC, in which he expressed his position on the further movement of bitcoin’s price. According to Miller, the situation in Ukraine and the fall of the ruble are a “bullish signal” for bitcoin.

"They have almost 50% of their reserves in currencies that are controlled by people who want to do them harm...they have 22% in gold that is the only part of their reserve that other countries can't control," says Bill Miller on Russia. "It's very bullish for #bitcoin." pic.twitter.com/zWihekfeyk— Squawk Box (@SquawkCNBC) March 2, 2022

“Russia has almost 50% of their reserves in currencies that are controlled by people who want to do them harm...Russia has 22% in gold which is the only part of their reserve that other countries can’t control. This situation is a bullish signal for bitcoin,” Miller stressed.

What other statements did the entrepreneur make? Bill Miller believes that new sanctions against Russia can cause bitcoin to skyrocket. The Russian government may start using this asset as a reserve currency, as well as for the purpose of circumventing sanctions and trade with friendly countries.

It should be noted that yesterday was mentioned the US plans to monitor Russia’s attempts to circumvent sanctions with the help of cryptocurrencies.

Author: