Prior experience shows that interest in Bitcoin grew even more when governments tried to control the premier cryptocurrency and Bitcoin will serve as a tool for setting universal standard value for all states, Miller Value Funds founder and investor Bill Miller told Sputnik in an interview.
“If you look at history, it would show that countries try to control what people want to do and shut down things like Bitcoin. It hasn’t worked well. In fact, interest in Bitcoin has gone up when governments have tried to do that,” Miller said on the sidelines of the annual Bitcoin conference in Nashville from July 25-27.
Miller pointed out that Bitcoin is an excellent tool to achieve greater collaboration across the globe as well as effectively serve as a unit of measurement.
“I think it’s a great tool as a universal standard of value to keep all sorts of nation-states honest,” Miller said.
The investor pointed out he believes Bitcoin will eventually overtake fiat currency and become the main reserve currency.
“I do think it [Bitcoin] ultimately moves beyond. I think it takes the ultimate reserve role in the world,” Miller said.
Miller clarified that there will be room for both currencies but ultimately Bitcoin will end up becoming worth a lot more.
On Saturday morning, former President Donald Trump is set to speak at the Bitcoin conference. Miller said the conference participants are looking forward to Trump’s speech in the hope that he will be on the “right side” and speak out in support of blockchain technology.
As of Friday morning, the price of Bitcoin increased to almost $68,000in anticipation of Trump’s speech.
