The Great Bitcoin Debate: Warren Buffett vs. Bill Miller

After Charlie Munger said Bitcoin (CRYPTO: BTC) is, "disgusting and contrary to the interests of civilization," at the recent Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) annual meeting, some may get the idea that all value investors must hate the world's largest cryptocurrency. Well, as in everything related to the market, the Bitcoin debate is not so cut and dried, even among famous value investors.

For instance, Bill Miller, a very successful value investor and Buffett acolyte, is a Bitcoin bull. Miller invested in Bitcoin in his fund years ago, before being forced to spin out his Bitcoin holdings into a separate account for investors. Miller also invested his personal money in Bitcoin and is now a Bitcoin billionaire after having purchased the cryptocurrency back in 2014-2015 at an average price around $350 per share, which he continues to hold.

While not as famous as Buffett and Munger, Miller became famous in the '90s and early 2000s after beating the market for 15 consecutive years when he ran the Legg Mason Value Trust. He did go on to make a big mistake during the Great Financial Crisis of 2008, losing 55% that year. Yet a recent profile in Barron's showed Miller is back, with his current fund, the Miller Opportunity Trust, in the top 1% of its peers over the past one-, three-, five-, and 10-year periods.

Source Fool.com