Leading American investor Bill Miller invests $ 300 million in Bitcoin Gray Fund

According to documents provided to the Securities and Exchange Commission (SEC), Bill Miller, a prominent American investor, seeks to invest 15% of its assets in Grayscale through the Grayscale Investment Fund. Quinn convert.

According to Decrypt, Miller is seeking to invest indirectly in Bitcoin through his investment fund through GrayScale.

According to the Miller Investment Fund, 15% of the assets will be invested in the Bitcoin Gray Investment Fund. Bill Miller Mutual Fund has about $ 2.25 billion in assets under its management and will invest about $ 300 million in Bitcoin through Gary Skill.

The news of this investment is being published, which said about Bitcoin last week:

Bitcoin is an emerging technology and is traded in a market where everything is accessible and owned entirely by investors. Bitcoin has a reasonably stable protocol and its sovereignty is well distributed.

The Miller Opportunity Trust is not the first large-scale investor to invest indirectly in the bitcoin market.

The news comes as Gary Skell announced last week that he would reopen his Atrium Mutual Fund. The company also plans to add several more Altcoins to its assets with a commercial license from the Delaware States.

Currently, the lack of exchange-traded funds (ETF) for digital currencies has led to a boom in Bitcoin and Atrium Gray Scale mutual fund business. Since the activity in these mutual funds is regulated, institutional and large-scale investors can safely use these tools.

Leading American investor Bill Miller invests $ 300 million in Bitcoin Gray Fund

Atrium GraySkill Investment Fund has approximately $ 4 billion in managed capital. Gary Skill receives a 2% fee for joining the fund, and the sale of assets is the responsibility of the investor.

In addition to investing in mutual funds, large-scale institutions and investors can enter the bitcoin market by investing in companies that have converted their assets into bitcoins. Morgan Stanley, for example, had previously entered the bitcoin market by buying shares in MicroStrategy.

Recent reports indicate that the micro-strategy holds more than $ 2.5 billion in bitcoins. Michael Saylor sees Bitcoin as a long-term investment plan. According to him, the profit of Bitcoin is much higher than the profit of gold and dollars.

It is worth noting that exchange traded funds are a more cost-effective option for investing in bitcoin; Because their wages are lower than investing through mutual funds. To date, the US Securities and Exchange Commission has not issued a license to operate the funds, despite several applications for them.

Following the resignation of Jay Clayton, chairman of the US Securities and Exchange Commission, many are hoping that the permit will be issued by the new chairman. VanEck and Valkyrie Digital Assests are among the companies that have applied for a new license since his resignation.

Leading American investor Bill Miller invests $ 300 million in Bitcoin Gray Fund