Currently, Bitcoin is trading at approximately $93,750, which is about 25% lower than its peak of $126,080 reached in October 2025.
Although Bitcoin has faced challenges in regaining the critical $100,000 mark, Bill Miller IV—chief investment officer at Miller Value Partners and son of renowned fund manager Bill Miller III—remains a strong advocate for the cryptocurrency.
The Miller Family’s Journey into “Digital Gold”
The story of the Miller family’s entry into Bitcoin stands out as one of the most remarkable success tales among early institutional adopters.
Bill Miller III, a prominent figure in value investing known for outperforming the S&P 500 for an impressive fifteen years straight, first discovered Bitcoin back in 2012.
Inspired by a lecture promoting Bitcoin’s potential, he decided to invest around 1% of his personal wealth when prices ranged from just $200 to $700 per coin.
By early 2022, it was revealed that his investments in Bitcoin and other digital currencies had ballooned to constitute nearly half of his total net worth. He referred to this asset as “insurance against financial disaster,” emphasizing that its supply remains unaffected by market prices.
Taking after his father’s legacy, Bill Miller IV has emerged as one of the leading advocates for viewing “Bitcoin as capital’s denominator.” In an interview conducted in March 2025, he disclosed that he purchases Bitcoin daily. “It’s the last thing I would ever sell,” he asserted.
Despite recent underperformance from Bitcoin itself, it appears that Miller’s confidence remains unwavering.
A Stronger Foundation
Miller IV’s current positive outlook stems from a broader perspective on market trends. While trading near $93,750 (down roughly 25% from its all-time high), he interprets this price movement as part of a healthy consolidation phase.
During a recent appearance on CNBC, he expressed that Bitcoin has formed what can be described as a “higher base” compared to springtime levels seen in 2025. He highlighted three significant advantages expected for the year ahead—2026—as key drivers for growth.
Miller pointed out that shifting capital markets towards blockchain technology represents an entirely new paradigm regarding how this flagship cryptocurrency will be utilized moving forward.
Additonally ,he reminded investors about historical patterns indicating that Bitcoin has never recorded two consecutive years with negative returns; however ,this trend may face disruption this year .