Bitcoin has the potential to 'be worth a lot or nothing', says Wall Street investor Bill Miller

Bitcoin ( BTC ) has the potential to reach an extremely high price, or a value of zero: said Bill Miller, a famous investor of Wall Street , during a recent interview with CNBC .

Miller, founder of the investment management firm Miller Value Partners, discussed with host Kelly Evans during a program called "The Exchange", defining Bitcoin as an interesting technological experiment and recalling that every year the cryptocurrency reaches ever higher lows.

For example, in 2018 the coin had touched a minimum of $ 3,200, while now it is trading for over $ 4,000. Miller then stated:

"Bitcoin has the potential to be worth a lot, or nothing."

The investor also mentioned another trend, pointing out that Bitcoin found its bottom exactly 52 weeks after the December 2017 peak. The traditional stock market took another three to four weeks to confirm the bottom.

Finally, Miller has unveiled that his portfolio also includes cryptocurrencies, as there is no direct correspondence between traditional and digital currencies: the former may be higher and the latter in red, and vice versa.

" I'm a Bitcoin observer, but I would not call myself a supporter, " Miller said.

In December 2017, when Bitcoin had reached its all-time high of $ 20,000 , Miller had revealed that he had invested nearly 50% of Miller Value Partners' funds in cryptocurrency. According to the latest data, Miller Value Partners manages a total value of over 2.89 billion dollars.

In March of last year, during an extremely bearish period of Bitcoin, Miller had explained that " bubbles are necessary to bring capital to market, and see if these innovations will actually be valid. "