Key Facts: Companies are realizing that MicroStrategy's strategy is working, Miller IV said. The executive claims that bitcoin solves even problems related to politics. Bill Miller IV, president of Miller Value Partners, presented his perspective on the role of bitcoin (BTC) in the economy and said that «it is the new global denominator for wealth.» Miller maintains this because Bitcoin offers businesses and individuals a way to protect themselves against inflation and economic instability. The businessman was interviewed by CNBC during the Bitcoin 2024 conference. There He compared Bitcoin to what the US Federal Reserve does with the dollar«If you look at the history of the Fed, they've printed about 6% supply growth over an incredibly long period, 6% supply growth that happens to match the long-term growth rate of nominal GDP,» Miller said.
Bill Miller IV during his participation at the Bitcoin 2024 conference. Source: Bitcoin Magazine – YouTube – Screenshot by BitcoinDynamic. In his opinion, one of the problems that bitcoin solves is that we would no longer have politicians “trying to curry favor, redistribute wealth, change taxes and change all kinds of things,” he commented. With bitcoin “you have what you have,” that is, 21 million bitcoin, unlike the dollar, which is indiscriminately printed by the government. For this reason, he is “incredibly optimistic about bitcoin’s long-term performance.”
More companies will adopt bitcoin
By incorporating bitcoin into their treasuries, companies can diversify their assets, reduce their exposure to fiat currency volatility, and gain access to a new global market. Miller highlighted that More and more companies are incorporating bitcoin into their financial strategies.
“What I’m excited about is the fact that this year’s conference now has more companies saying they’re going to add bitcoin to their investment portfolio as a strategic treasury asset; that’s not been seen before.” Bill Miller IV, President of Miller Value Partners
In his opinion, more and more companies will enter the digital currency market and adopt it. “Not having it on their balance sheets is a bad idea. The world is a competitive place and bitcoin is a great way to compete,” he said. Some of those companies that participated in the Bitcoin 2024 conference They discussed their experience with bitcoin adoption. One of those companies was Semler Scientific, focused on the medical and pharmaceutical sector. Its president, Eric Semler, commented at the event that was inspired by what MicroStrategy and its president Michael Saylor have preached about bitcoinas reported by BitcoinDynamic. Saylor has referred to “zombie companies” on more than one occasion. These are companies that do not generate enough income to cover their expenses and constantly rely on debt to survive.
Michael Saylor is the founder and president of MicroStrategy. Source: Bitcoin Magazine – YouTube – Screenshot by BitcoinDynamic. Semler, during his presentation at Bitcoin 2024, said that they were a zombie company. However, After adopting bitcoin, the company «revived»Semler Scientific is one of those new companies that started their strategy of buying the digital currency and adding it to their balance sheets. The company announced at the end of May this year that it had bought 581 BTC for the first time. Last June, Semler Scientific acquired an additional 247 bitcoin, thus obtaining a total of 828 BTC in its possession.