American billionaire calls bitcoin insurance against possible disaster

Bill Miller, a billionaire founder and chief investment officer of Miller Value Partners, said that he considers bitcoin (BTC) to be «an insurance policy against financial disaster.»

One of his examples was the situation in Afghanistan after the withdrawal of US troops: «When the US left Afghanistan, Western Union stopped sending money transfers there, but if you had bitcoin, nothing changed financially for you, because you can sell it to anyone in the world if you have a phone.»

Miller also advised not to listen to Warren Buffett, who recently said that he would not buy BTC even for a penny: «If you look at everything through Buffett’s prism, you can understand him. But I recommend just ignoring his words.» He added that «the purpose of investing is not to own production assets, but to make money.»

In January this year, Miller said that he had invested half of his savings in bitcoin.