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- Miller Value Fund recently registered with the Securities and Exchange Commission to invest in Bitcoin
- The official filing disclosed that the company is exploring the option of 15% exposure through the GBTC trust fund
- The mobility giant MicroStrategy is currently at the top of the institutional Bitcoin exposure
Miller Value Fund is an asset management institution that aims to maximize long term returns. The firm recently registered with the Securities and Exchange Commission to invest in Bitcoin. It executed the process through Grayscale Bitcoin Trust.
The details of the official file with SEC
The authorized filing consists of intricate discussions on Bitcoin. It also stated that their Opportunity Trust Fund is planning to invest in Bitcoin.
Veteran investor Bill Miller actively operated the Miller Value Partners .He has already put his stake in Bitcoin for quite a long time. However, on a personal level, this would be his first time regulating a bitcoin portfolio for a publicly accessible trade fund.
The company is exploring the option of 15% exposure through the GBTC trust fund according to the official filing. The company’s plan is to stop buying the same once the limit is achieved.
The 15% submission to Bitcoin of the company also established a level of uncertainty about whether the company is ready to sell bitcoin after its portfolio crosses the 15% mark. However, it was elucidated that the firm intended to convey that they will not purchase any more Bitcoin if their previous purchase violates their portfolio’s standard mark of 15%.
Increasing institutional influx into Bitcoin
2021 is likely to come across as the year of significant institutional inflow into Bitcoin. This influx began by the concluding quarter of 2020. It was the same period when entities like Paypal, MicroStrategy, and various other publicly traded companies upgraded their company sheets by adding Bitcoin to them.
The mobility giant MicroStrategy is currently at the top of the institutional Bitcoin exposure. It has invested $1.5 billion in the leading cryptocurrency till now. Michael Saylor, the CEO of the firm further disclosed that, Ross Stevens (NYDIG) suggested that a potential $25 billion institutional inflow can be expected into Bitcoin by the year-end.
The crucial 15% exposure of Miller Value Fund to Bitcoin only affirms the assumption that the rate of public companies planning their entry into bitcoin is increasing. The leading cryptocurrency has, thus, developed as the preferred choice of institutions. It represents itself as the new hedging asset along with its characteristic of a store of value.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
