- The Miller family’s “digital gold” origins
- A “higher base”
Bitcoin currently trades near $93,750, a level that sits roughly 25% below its $126,080 peak reached in October 2025.
Bitcoin has so far struggled to reclaim the make-it-or-break-it $100,000 level, but Bill Miller IV, chief investment officer of Miller Value Partners and son of legendary fund manager Bill Miller III, says that he remains “a huge bull.”
The Miller family’s “digital gold” origins
The Miller family’s journey into Bitcoin is one of the most successful “early adopter” stories in institutional history.
Bill Miller III, a titan of value investing famous for beating the S&P 500 for 15 consecutive years, first encountered Bitcoin in 2012
Being inspired by a pro-BTC lecture, he allocated roughly 1% of his personal net worth at an average cost of just $200 to $700 per coin.
By early 2022, Miller III revealed that Bitcoin and other digital assets had grown to represent roughly 50% of his personal net worth. He described it as “insurance against a financial catastrophe” and the only economic entity where supply is completely unaffected by price.
Bill Miller IV followed in his father’s footsteps and became one of the most vocal proponents of the “Bitcoin as the denominator of capital” thesis. In a March 2025 interview, Miller revealed that he continues to buy Bitcoin every single day. “It’s the last thing I’d ever sell,” he said
Despite Bitcoin’s underperformance, it seems like Miller’s conviction has not budged
A “higher base”
Miller IV’s current optimism is grounded in a “zoom out” philosophy. Despite Bitcoin trading near $93,750 (down approximately 25% from the $126,080 all-time high set in October 2025), he views the current price action as a healthy consolidation.
In a recent CNBC appearance, Miller IV argued that Bitcoin has established a “higher base” than it did in the spring of 2025. He pointed to three “massive tailwinds” for 2026.
Miller noted that the transition of capital markets to blockchain infrastructure is a “whole new ballgame” for the utility of the flagship coin.
Miller also reminded investors that Bitcoin has never closed two consecutive years in the red. However, this historical trend could be broken this year
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin 8-Hour Average Funding Rate Turns Negative at -0.01%
Gate News message, April 22 — According to Coinglass data, Bitcoin's 8-hour average funding rate across the network currently stands at -0.01%, indicating a slight bearish sentiment among futures traders.
Among major exchanges, funding rates vary: one exchange at -0.0007%, another at -0.0033%, a th
GateNews3h ago
BTC 24H up 5.01%, current price 79399.3 USDT
Gate News bot message, Gate market data shows, BTC has risen 5.01% in the last 24 hours, current price is 79399.3 USDT.
CryptoRadar3h ago
MicroStrategy Could Drive Bitcoin to $10M If It Accumulates 7.5% Supply, Saylor Says
MicroStrategy aims for 7.5% of Bitcoin supply, implying $10M per BTC; as of Apr 19 it held 815,061 BTC (~3.88%) for $61.56B, needing ~3.62% more to target saturation in Saylor’s long‑term accumulation plan.
Abstract: MicroStrategy seeks to accumulate roughly 7.5% of Bitcoin supply, a threshold Saylor suggests could push BTC to about $10 million and slow purchases thereafter. By April 19 it owned 815,061 BTC (≈3.88% of supply) for $61.56B and would require about 3.62 percentage points more to reach the target, indicating a approaching saturation of its long-run accumulation strategy.
GateNews4h ago
Bitcoin Liquidation Levels: $28.21B Long Liquidations at $74,951, $16.13B Short Liquidations at $82,741
Gate News message, April 22 — According to Coinglass data, if Bitcoin falls below $74,951, cumulative long liquidations across major centralized exchanges would reach $28.21 billion.
Conversely, if BTC breaks above $82,741, cumulative short liquidations across major CEXs would reach $16.13 billion.
GateNews5h ago
Bitcoin and Ethereum Spot ETFs Record Consecutive Net Inflows; BTC ETFs Reach $99.08B in Assets
Abstract: Bitcoin and Ethereum spot ETFs posted net inflows on Apr 21, extending multi-day streaks. BTC inflows were led by BlackRock’s IBIT and Grayscale, with GBTC outflows; ETH inflows were led by ETHA, with ETHE outflows.
Summary: Bitcoin and Ethereum spot ETFs posted Apr 21 inflows, extending gains; BTC led by IBIT and Grayscale with GBTC outflows, NAV $99.08B (6.54%). ETH inflows topped by ETHA, ETHE outflows; NAV $13.66B, inflows $12.05B.
GateNews6h ago
Expert Observes a Bullish 90-Day Bitcoin Pattern Repeating, BTC Could Hit $145,000 ATH Target
Expert observes a bullish 90-day Bitcoin pattern repeating.
He declares accumulation phase complete and expects manipulation phase to start.
BTC could hit $145,000 ATH target in the final distribution phase.
The crypto market has been moving in an upwards direction after weeks of
CryptoNewsLand6h ago
