Potential Return for Bitcoin Is Huge: Miller

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March 20 (Bloomberg) -- In "This Matters Now,” Bill Miller, Chairman and CIO of Legg Mason Capital Management, discusses the merits of Bitcoin and why he is a personal investor. He speaks on Bloomberg Television's “Bloomberg Surveillance.” (Source: Bloomberg)

Chairman and chief investment officer at lmm.

It may surprise you that mr.

Miller likes bitcoin.

Why does a conservative guy like bitcoin?

I've been buying bitcoin her slowly.

We don't own it in the fun.

When bloomberg can get a quote on it and it can be securely stored, it's a possibility.

We have moved from the hysteria to this workout.

Are you an investor who sees a new stability within the so-called currency?

Bitcoin is an interesting intellectual and technological experiment.

Investing in bitcoin -- it's like making a venture backed in the sense of you don't know what's going to happen.

The potential return is huge.

The amount of gold in the world is a trillion dollars.

The value of all bitcoin is about $7 billion.

If it reached 1/10 the value of gold, 100 times your money.

There's an efficiency to bitcoin.

In the discussion on collectivity -- what about the theoretical underpinnings that allow bitcoin to be a source of stability?

Money has three functions.

Bitcoin has the potential to for fill all of those.

People of complaint correctly about its volatility.

Especially recently.

Gold was $35 announce and then $800 an ounce and then $2000 announce.

It has been volatile, too.

It has the potential.

Doesn't need government supervision?

A regulatory scheme around the?

I think it does.

Because of its potential functions, regulators will be involved one way or another.

You went away one from school -- washington and lee university.

Will you be able to pay tuition in bitcoin?

There's no reason you couldn't dona it in a week or two if they said it up that way.

Even if we are at a stability of $600, isn't that volatility every day too much to be able to do a retail transaction?

When you do a bitcoin transaction with retail, they converted right back to dollars.

They're not holding bitcoin in inventory in taking the risk.

You're doing it instantaneously.

This text has been automatically generated. It may not be 100% accurate.


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