Bitcoin at $62K ‘great buy’ before next surge, says fund manager
Consolidation after fresh all-time highs means now is the time to buy BTC in “wildly bullish” conditions, argues Vailshire Capital. Bitcoin (BTC) looked set to retest previous all-time highs on Thursday as a fund manager called it a “great opportunity to buy.”BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewCointelegraph Markets Pro and TradingView showed a 3.3% daily comedown for BTC/USD taking aim at new support levels on Thursday.Bitcoin outlook “wildly bullish”After surging to nearly $65,000 on Monday, Bitcoin began to consolidate in a new range as the buzz around Coinbase’s....
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The first publicly available U.S. mutual fund that generally tracks the price of Bitcoin has been launched by a $60 billion fund manager.
Tim Bond, a portfolio manager at Odey Asset Management, has warned that bitcoin is pointless, calling the cryptocurrency “a particularly vile asset class.” He claims that bitcoin has no real social utility other than as a tool for speculation and a means to launder the proceeds of crime. Fund Manager Sees Bitcoin as a Vile Asset Class Tim Bond, a partner and portfolio manager at Odey Asset Management, warned about bitcoin in a recent interview with Marketwatch. Established in 1991 by billionaire Crispin Odey, the firm currently has over $3 billion in funds under management.....
Fund Manager and founder of Miller Value Partners, Bill Miller says holding bitcoin is better than holding cash because the digital asset is immune to the bad policies of the U.S. Federal Reserve. Writing in the 2020 Q4 Market Letter, Miller explains that some companies are already converting to bitcoin in order to avoid incurring the “guaranteed losses” of holding cash. Bitcoin Beats Berkshire Hathaway In his brief focus on the top crypto, the fund manager starts by noting how bitcoin “has outperformed all major asset classes” after the digital asset went “up....