Legendary hedge fund manager, Bill Miller, can boast bumper performance for including Bitcoin as part of his investment strategy. A fund launched three years ago has posted impressive gains this year according to reports.<\/p>\n
A Bloomberg report<\/a> has cited an investor document revealing that the fund launched by Miller three years ago has made 46% so far this year. It then quipped;<\/p>\n \u201cThat\u2019s enough to make plenty of people in the hedge fund industry jealous.\u201d<\/p><\/blockquote>\n Miller spent three decades at American investment management firm Legg Mason where he selected beaten-down securities that trade at a large discount to their intrinsic value. The Bitcoin bull bet right this time with a bullish wager on the king of crypto. The document suggests that BTC\u2019s performance this year is largely responsible for the impressive fund gains.<\/p>\n Bitcoin started the year trading at a lowly $3,800 and surged over 260 percent to an eighteen month high of $13,800. Even including the current 30 percent pullback, BTC is still up over 150 percent so far this year.<\/p>\n Those impressive figures have made it one of the top performing assets<\/a>, outpacing traditional investments such as stocks, commodities and real estate. By comparison, gold \u2013 which is trading at a six year high, has only made 11 percent since the beginning of the year.<\/p>\n Miller also made investments in Amazon, security systems firm ADT Inc, and Avon Products Inc. The fund has assets of $126 million with Miller overseeing $2.3 billion in total from his Baltimore-based firm. Bloomberg added that the fund has been volatile over its short lifespan. It soared 182% in its first full year of trading in 2017, but lost 34% last year as stocks slid.<\/p>\n Miller is also doing well in the world of mutual funds. The Miller Opportunity Trust, which has $1.5 billion in assets, is up 18% this year through, outperforming almost 90% of its peers according to the report.<\/p>\n imagine that – bitcoin driving alpha! https:\/\/t.co\/6ZGtVPqXCw<\/a><\/p>\n — Meltem Demirors (@Melt_Dem) July 25, 2019<\/a><\/p><\/blockquote>\n\n