Bill Miller IV: Still bullish on Bitcoin, its scarcity surpasses that of gold

Bill Miller IV, Chairman and Chief Investment Officer of Miller Value Partners, stated in the BMTV program that he remains bullish on Bitcoin against the backdrop of market sentiment nearing the lows seen during the FTX collapse. He pointed out that Bitcoin rose from $63,000 to $87,000 within months, then fell back to $68,000, and believes that volatility is the price of holding quality assets.

He drew a comparison with gold, arguing that Bitcoin's accessible value is far higher than its current market capitalization; its supply only grows by 80 basis points each year, making it scarcer than gold. He also discussed the issue of continuous currency issuance, stating that printing money is the only way out in the current macro environment.

The program also covered topics such as Strategy being removed from the MSCI index, rising inflation and Federal Reserve interest rate hikes, the AI bubble and Nvidia's valuation, catalysts for Bitcoin price increases, and what conditions the Clarity Act can provide for Bitcoin investors.