- The Miller household’s “digital gold” origins
- A “greater base”
Bitcoin at present trades close to $93,750, a degree that sits roughly 25% beneath its $126,080 peak reached in October 2025.
Bitcoin has to this point struggled to reclaim the make-it-or-break-it $100,000 degree, however Invoice Miller IV, chief funding officer of Miller Worth Companions and son of legendary fund supervisor Invoice Miller III, says that he stays “an enormous bull.”
The Miller household’s “digital gold” origins
The Miller household’s journey into Bitcoin is likely one of the most profitable “early adopter” tales in institutional historical past.
Invoice Miller III, a titan of worth investing well-known for beating the S&P 500 for 15 consecutive years, first encountered Bitcoin in 2012.
Being impressed by a pro-BTC lecture, he allotted roughly 1% of his private internet price at a median price of simply $200 to $700 per coin.
By early 2022, Miller III revealed that Bitcoin and different digital belongings had grown to symbolize roughly 50% of his private internet price. He described it as “insurance coverage towards a monetary disaster” and the one financial entity the place provide is totally unaffected by worth.
Invoice Miller IV adopted in his father’s footsteps and have become one of the vocal proponents of the “Bitcoin because the denominator of capital” thesis. In a March 2025 interview, Miller revealed that he continues to purchase Bitcoin each single day. “It is the very last thing I might ever promote,” he stated.
Regardless of Bitcoin’s underperformance, it looks like Miller’s conviction has not budged.
A “greater base”
Miller IV’s present optimism is grounded in a “zoom out” philosophy. Regardless of Bitcoin buying and selling close to $93,750 (down roughly 25% from the $126,080 all-time excessive set in October 2025), he views the present worth motion as a wholesome consolidation.
In a current CNBC look, Miller IV argued that Bitcoin has established a “greater base” than it did within the spring of 2025. He pointed to 3 “large tailwinds” for 2026.
Miller famous that the transition of capital markets to blockchain infrastructure is a “entire new ballgame” for the utility of the flagship coin.
Miller additionally reminded traders that Bitcoin has by no means closed two consecutive years within the purple. Nevertheless, this historic pattern could possibly be damaged this yr.