No menu items!

Bill Miller’s Multibillion-Dollar Hedge Fund to Add Bitcoin Exposure via GBTC – Finance Bitcoin News

The flagship fund of billionaire hedge fund manager Bill Miller will soon be able to add bitcoin exposure by investing in Grayscale Bitcoin Trust (GBTC), according to a filing with the US Securities and Exchange Commission (SEC). The fund currently has approximately $2.25 billion in assets under management.

Bill Miller’s $2.25 million hedge fund will invest in HBTC

Miller Opportunity Trust, a hedge fund in the Miller Value Funds family, has filed an amendment to its registration statement with the US Securities and Exchange Commission to access bitcoin. Billionaire investor Bill Miller founded Miller Value Partners LLC in 1999 and is the investment manager for the Miller Value Funds family.

The firm’s flagship fund, Miller Opportunity Trust, had total assets under management of $2.25 billion in December 2020. Miller and Samantha McLemore manage the foundation. According to a statement filed with the Securities and Exchange Commission on 5… February:

The fund may seek to invest indirectly in bitcoins by investing in Grayscale Bitcoin Trust, an organization that owns bitcoins.

The investment objective of the Miller Opportunity Trust is to achieve long-term capital growth. The filing becomes effective 60 days after the filing date.

Grayscale Bitcoin Trust (GBTC) is a private investment company whose shares can also be sold over-the-counter in the form of promissory notes. Grayscale recently reached the $30 billion mark in crypto assets under management, including about $24 billion in bitcoin. In addition to Bitcoin Trust, the company offers eight other cryptocurrency investment products.

Miller Opportunity Trust’s statement to the Securities and Exchange Commission explains it in more detail:

The Fund will not make an additional investment in Grayscale Bitcoin Trust if such investment would cause its total investment in bitcoin to exceed 15% of its assets at the time of investment.

Miller has long been a supporter of bitcoin. Last November, he said that all the major banks had invested in bitcoin, noting that bitcoin’s volatility decreased as the price rose.

What do you think of Bill Miller’s hedge fund investment in the GBTC? Let us know your comments in the section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of a product, service or company. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.

Related Tags:

is bitcoin safe,how much are bitcoins worth,bitcoin stock price,bit coin price,Privacy settings,How Search works

More from author

Related posts

Latest posts

Top 10 Crypto Stories of 2021 | Footprint Analytics Annual Report 2021

The cryptocurrency industry has come a long way in the last few years, and many of its most promising projects are still developing and...

The Rise of NFTs | Footprint Analytics Annual Report 2021

In the next five years, we expect to see continued growth of blockchain-powered digital assets and a major shift in how they are used....

Calamari Network Rolls Out Community Governance Measures As Decentralization Efforts Advance

The Calamari Network, a decentralized peer-to-peer digital content platform built on the EOS blockchain is announcing community governance measures designed to help achieve continued...