Legendary investor Bill Miller showed some big love for cryptocurrency as the billionaire and fund manager saidthat bitcoin and other cryptos now represent around 50% of his personal assets.

Miller made his revelation during avideo interviewwith WealthTrack, saying that he views bitcoin asinsurance against financial catastrophes and government overreach.

He said he invested in bitcoin in 2014, and then started buying it up again last spring during a surge in interest by venture capital firms.

"Bitcoin is the only economic entity where supply isn't affected by demand," he said.

The billionaire investor advisedindividual investors to put at least 1% of their assets in bitcoin.

"I think the average investor should ask himself or herself what do you have in your portfolio that has that kind of track record number one; is very, very underpenetrated; can provide a service of insurance against financial catastrophe that no one else can provide; and can go up ten times or fifty times," Miller said. "The answer is: nothing.

He explained that "if you put 1% of your portfolio in it for diversification, even if it goes to zero, which I think is highly improbable, but of course possible, you can always afford to lose 1%."

Miller is founder and chief investment officer of Miller Value Partners, a company he founded back in 1999 while working at Legg Mason. He lost most of his fortune in the late 2000s, but made a remarkable comeback thanks to his investment in Amazon (AMZN) - Get Amazon.com, Inc. Reportand bitcoin.

"I thought 50% is a good stopping point for me," he said, "but if it goes all the way to $80-85k, I'll buy it all the way down."

Heholds the record for beating the S&P 500 index for 15 consecutive years in the years 1991 to 2005.

Excerpt from:
US Billionaire Bill Miller Bets 50% of His Wealth in Bitcoin - TheStreet

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Near Foundation Raises $150 Million to Bolster Web3 Adoption

On Thursday, the Near Foundation announced the project has raised $150 million from strategic investors such as Three-Arrows Capital, a16z, Mechanism Capital, Dragonfly Capital, and Circle Ventures. Following the announcement, the Near protocols native crypto asset jumped more than 7% ... read more.

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Bitcoin.com Games Releases its Very First Crash Game Space XY Promoted Bitcoin News - Bitcoin News

Bitcoin Magazines YouTube channel was restored around three hours after being shut down, with the publication attributing the short ban to the YouTube algorithm flagging the word Kazakhstan.

In a Jan. 12 Twitter post, Bitcoin Magazine noted that its YouTube account with 56,600 followers was banned in the middle of a livestream with no prior warning from the platform.

The Livestream was focused on topics relating to Elon Musk, Jack Dorsey, Bitcoin (BTC) mining and the recent internet blackout in Kazakhstan, whichwas reportedly initiated by the government in response to mass protests over surging fuel prices in the nation.

Bitcoin Magazine stated it wasnt entirely sure what grounds YouTube had used to ban its channel but did confirm that its account had been restored an hour after it had submitted an appeal, suggesting that Youtube had realized its error.

In a live broadcast after the reinstatement, host Alex Mcshane noted that the panel was discussing the internet blackouts effect on the BTC mining hash rate without saying anything controversial, but was using a set of algorithmically and politically charged words, which may have triggered the automated shutdown:

Bitcoin Magazine also shared a post earlier on Wednesday noting the initial response from YouTube regarding the ban, with the Google-owned platform stating that content that encourages illegal activities or incites users to violate YouTubes guidelines is not allowed.

We may allow depictions of such activities if they are educational or documentary in nature and dont help others imitate them, the response added.

Despite its content policy, current searches on YouTube still yield results showing multiple live streams using the identity and video content of popular figures such as MicroStrategy's Michael Saylor to promote dodgy websites and supposed crypto giveaway scams.

Related: Key on-chain metric shows Bitcoin miners in massive BTC accumulation mode

Commenting on the ban in the r/CryptoCurrency subreddit, user u/Setl1less highlighted the hypocrisy, arguing that Youtube has made it a habit of taking down prominent informative accounts while allowing scams to operate freely.

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Dont mention K country: Bitcoin Magazine's YouTube restored after ban - Cointelegraph

Fidelity Digital Assets the crypto wing of Fidelity Investments, which has $4.2 trillion assets under management, shared their two sats on the future of the digital assets space. The key takeaways touched upon miners behavior and Bitcoin (BTC) network adoption.

In the annual report released last week, the group shared some insights into the world of BTC mining:

The report stated that the recovery in the hash rate in 2021 was truly astounding, particularly when considering that the worlds second-largest economy,China, banned Bitcoin in 2021. The rebound in hash rate since the ban thanks to BTCs hash power being more widely distributed around the world, showed miners are set on long-term profits.

The statements aligned with miners recent selling performance. Key on-chain metric indicate Bitcoin miners are in massive BTC accumulation mode, as miners show no desire to sell.

Related: Fidelity exec says Bitcoin is technically oversold, making $40K a pivotal support

When it came to orange-pilling entire countries, Fidelity made some interesting predictions into more nation-states accepting BTC as legal tender:

Their comments come as Tongas former MP suggested the country could adopt BTC in late 2022.

In essence, more regulation and better products will open up the crypto space, bringing a greater portion of the hundreds of trillions in traditional assets into the digital asset ecosystem. Combined with miners' hodling, it could lengthen the cycle and drive BTC to new highs.

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Bitcoin cycle is far from over and miners are in it for the long haul: Fidelity report - Cointelegraph

Bitcoin (CRYPTO:BTC), the biggest cryptocurrency on the market, has bitten the dust so far in the new year. So has the best-performing digital token in 2021,Shiba Inu (CRYPTO:SHIB).

It's not their fault. Cryptocurrency prices, in general, have fallen significantly in recent days. But not all of them. Here are two cryptocurrencies that have trounced Bitcoin and Shiba Inu during the current crypto crash.

Image source: Getty Images.

While Bitcoin and Shiba Inu have fallen so far this year,Chainlink (CRYPTO:LINK) has delivered an impressive year-to-date gain of close to 40%. It now ranks No. 16 on CoinMarketCap's list of the top cryptocurrencies with a market cap of around $12.9 billion.

How has Chainlink been able to defy gravity with most other cryptocurrencies sinking? Some crypto whales deserve much of the credit. Crypto whales are investors who invest heavily in cryptocurrencies. Where they put their ample financial resources is a subject of intense scrutiny.

The Whale Stats website specifically tracks the top 1,000 crypto wallets on the Ethereum (CRYPTO:ETH) blockchain. Last week, the site reported that crypto whales were swimming toward Chainlink more than any other digital coin. That was all it took to provide a big boost to Chainlink's price.

Why has Chainlink gained favor? Probably because it's the leader in what are called oracle networks. Smart contracts are built on blockchains. However, they often need data from outside the blockchain ecosystem. Oracles enable smart contracts to access this external real-world data.

For example, Arbol developed a smart contract platform for farmers and other businesses to hedge against climate risks. This requires weather data from outside the blockchain. Arbol selected Chainlink to make it happen.

Chainlink could enjoy even wider adoption going forward thanks to the planned Ethereum 2.0 upgrade. Because Chainlink is built on the Ethereum blockchain, the transition from Ethereum to a proof-of-stake protocol could entice even more developers to use the Chainlink oracle network.

Internet Computer (CRYPTO:ICP) has emerged as another top winner so far in 2022. The cryptocurrency is up more than 30% year to date. It currently holds the No. 27 spot on CoinMarketCap's ranking with a market cap of around $6.6 billion.

There isn't any evidence that crypto whales have been pouring their money into Internet Computer as they have Chainlink. However, investors seem to be increasingly enamored with Internet Computer's Web3 (or Web 3.0) opportunity. Internet Computer was one of the top 10 fastest-growing cryptocurrency ecosystems last year, according to Web3 venture firm Electric Capital.

If you're not familiar with Web3, you can think of it as the third version of the internet where individuals instead of large corporations are in control. Web 1.0 was the initial internet of the 1990s. Web 2.0 came about later with companies such as Amazon.com, Facebook (now Meta Platforms), Google (now part of Alphabet), and Twitter dominating. The idea with Web3 is that you'll be able to control your own data thanks to the power of blockchains.

Internet Computer was designed to enable the internet to host all kinds of smart contracts and decentralized finance (DeFi) applications. Unlike traditional blockchains, any device connected to the internet, including smartphones and smartwatches, can authenticate artifacts using Internet Computer.

Several projects in the Internet Computer ecosystems are already making the promise of Web3 a reality. For example, Fleek allows any web content to deploy on Web3. Distrikt is kind of a Web3 version of Microsoft'sLinkedIn.

If Web3 takes off as much as some expect it will, Internet Computer could keep up its winning ways. And it just might continue to trounce Bitcoin and Shiba Inu.

This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

Originally posted here:
2 Cryptocurrencies That Have Trounced Bitcoin and Shiba Inu During the Crypto Crash - Motley Fool

Listen To This Episode:

"Bitcoin Bottom Line" podcast host C.J. Wilson presented a solo episode to break down the topic of open-source software.

The concept of Bitcoin being an open-source software projects means that everything about Bitcoin must have visibility and auditability, meaning that anyone, including average non-coders, has access to download the entire language. This encourages folks to participate in an open, Socratic manner, having conversations with logic and not necessarily emotion.

Wilson explained the BIP process, which sees Bitcoin Improvement Proposals run on GitHub by Bitcoin Core developers. The developers are working on Bitcoin Core, posting the proposals written by Bitcoiners to the network. After these are posted, a formative argument is made to discuss the process and decide whether or not it should pass.

Since all Bitcoin iterations are reverse compatible, if a BIP is approved, each user can choose whether or not to upgrade to that version of the Bitcoin software.

Another aspect of open-source projects is that they include the transparency of all transactions on the blockchain. This explains that there is a lever of power between the developers, nodes and miners. Developers work on the programming, the nodes are validating the programming and agreeing to run the programs.

Wilson explained that a node is for folks to run their own transactions, and to receive them. A node can also be used as a wallet. In the past, folks would have their node on their laptop, also used as a wallet, and if they lost their laptop, they lost everything. Now, folks might have a Lightning Network wallet on their phone, a node on their laptop, mining equipment, etc.

Bitcoin Core developers have decided that the safety of the users is more important than the novelty of the use. Wilson closed out the episode describing the speed, efficiency and security of the Bitcoin network, and more.

Excerpt from:
Discussing The Importance Of Bitcoin's Open-Source Ethos - Bitcoin Magazine

Mai Capital Managements chief equity strategist and regional president, Chris Grisanti, has predicted that this year will be tough for crypto largely due to regulations. However, he expects established cryptocurrencies, such as bitcoin and ether, to do quite well once regulations come into focus.

Mai Capital Managements Chris Grisanti shared his outlook for the cryptocurrency market in an interview with CNBC Thursday. Grisanti, CFA, is chief equity strategist and regional president of Mai Capital Management, a wealth management firm that provides planning and investment advisory services.

Noting that crypto is almost a victim of its own success, Grisanti detailed:

I think its going to be a tougher year for crypto There will be calls for regulation from all over the place from China, from Europe, and here in the United States.

Nonetheless, the equity strategist sees some cryptocurrencies coming out ahead. I do think there will be a great winnowing as well. I think the more established coins like bitcoin and ethereum will do quite well after regulations come into focus, he described.

The strategist elaborated:

Once regulations are in place, institutional investors, I think, will get more comfortable treating bitcoin not like a currency but like gold, which is a hedge against inflation and other things.

A recent survey by Nickel Digital Asset Management, a regulated European digital asset hedge fund manager, also shows that institutional investors are optimistic about more regulation coming to the crypto industry.

Commenting on the U.S. Securities and Exchange Commission (SEC) being granted more power to regulate the crypto space, 73% of institutional investors and wealth managers believe this will have a positive impact on the price of crypto and digital assets and 32% believe it will have a very positive effect.

What do you think about the predictions by the equity strategist? Let us know in the comments section below.

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Mai Capital Predicts Tough Year for Crypto Expects Bitcoin and Ethereum to Do Well Once Regulations Come Into Focus Regulation Bitcoin News -...