Bill Miller Likes Bitcoin Even More At Lower Prices

Fund manager Bill Miller continues to believe in Bitcoin BTC/USD despite its fall from $65,000.

What Happened: Renowned American investor Bill Miller was seemingly unphased by the crypto market’s recent downward spiral, telling CNBC that he still considers it a good investment.

“If I liked something at higher prices it is a safe bet I will like it even more at lower prices,” Miller said to CNBC’s Kelly Evans in a statement.

He viewed the market’s recent volatility as nothing out of the ordinary, adding that he doesn’t comment on “normal fluctuations” in stock or asset prices.

“The Bitcoin correction, while extreme if it happened to the equity market in such a short period, is right in line with moves we have seen many times in Bitcoin,” he said.

Miller explained that the reason he commented on Bitcoin’s crash in March 2020 was because “that four-week drop was historic,” unlike the digital asset’s recent dip in price, which Miller called “pretty routine.”

See also: What Crypto's Most Prominent Influencers Think About Bitcoin Crash

Earlier this year, when Bitcoin was trading above $55,000, Miller commented on the rally, saying that he didn’t believe it was a bubble.

“With Bitcoin, volatility is the price you pay for performance,” he said.

Price Action: At press time, Bitcoin had resumed trading above $40,033, rising by 4% in the past 24-hours.

Trading volume in the market-leading digital asset was also up by over 60% overnight.